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6. Award: 14.00 points Problem 3-7 Profitability Ratios (LG3-4) Maggie's Skunk Removal Corp.'s 2021 income statement listed net sales of $13.9 million, gross profit
6. Award: 14.00 points Problem 3-7 Profitability Ratios (LG3-4) Maggie's Skunk Removal Corp.'s 2021 income statement listed net sales of $13.9 million, gross profit of $9.20 million EBIT of $7.0 million, net income available to common stockholders of $4.6 million, and common stock dividends of $2.6 million. The 2021 year-end balance sheet listed total assets of $53.9 million and common stockholders' equity of $22.4 million with 2.0 million shares outstanding. Calculate the gross profit margin. (Round your answer to 2 decimal places.) Calculate the operating profit margin. (Round your answer to 2 decimal places.) Calculate the profit margin. (Round your answer to 2 decimal places.) Calculate the basic earnings power. (Round your answer to 2 decimal places.) Calculate the return on assets. (Round your answer to 2 decimal places.) Calculate the return on equity. (Round your answer to 2 decimal places.)
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