4. Return on common equity totai assets c. In what way has the larger debt of Timberland Forest made it more profitable than Pelican Paper? What are the risks that Timberland's investors undertake when they choose to purchase its stock instead of Pelican's? P3-22 Ratio proficiency McDougal Printing, Inc., had sales totaling $40,000,000 in fiscal year 2015. Some ratios for the company are listed below. Use this information to determine the dollar values of various income statement and balance sheet accounts as requested. McDougal Printing, Inc. Year Ended December 31, 2015 Sales Gross profit margin Operating profit margin Net profit margin Return on total assets Return on common equity Total asset turnover Average collection period $40,000,000 80% 35% 8% 16% 20% 62.2 days Calculate values for the following: a. Gross profits b. Cost of goods sold