Balance Sheets Triumph's Companies Balance Sheet May 31, 2024 and 2023 Assets Liabilities 2024 2023 2024 2023 Cash $ 2,100 $ 1,800 Total Current Liabilities 27,000 $ 13,000 Short-term Investments 26,000 14,000 Long-term Liabilities 13,400 10, 100 Accounts Receivable 7,300 5,600 Total Liabilities 40,400 23, 100 Merchandise Inventory 6,800 5,900 Stockholders' Equity ALL ... -1. 11.000 1.700Triumph's Companies, a home improvement store chain, reported the following summarized gures: g (Click the icon to View the income statement.) @ (Click the icon to view the balance sheets.) Triumph's has 30,000 common shares outstanding during 2024. Read the muirements. Requirement 1. Compute the prot margin ratio for Triumph's Companies for 2024. Begin by selecting the formula to calculate Triumph's Companies' prot margin ratio. Then enter the amounts and calculate the prot margin ratio for 2024. (Round your answer to one tenth of a percent, X.X%.) Prot margin ratio % Requirement 2. Compute the rate of return on total assets for 2024. Begin by selecting the formula to calculate Triumph's Companies' rate of return on total assets. Then enter the amounts and calculate the rate of return on total ' Income Statement Triumph's Companies Income Statement Years Ended May 31, 2024 and 2023 Net Sales Revenue Cost of Goods Sold Interest Expense All Other Expenses Net Income 2024 2023 $ 42,100 $ 41,600 20,800 25,500 400 320 6,200 6,500 $ 14,700 $ 9,280 Requirements PPS-\"P? Compute the prot margin ratio for Triumph's Companies for 2024. Compute the rate of return on total assets for 2024. Compute the asset turnover ratio for 2024. Compute the rate of return on common stockholders' equity for 2024. Are these rates of return strong or weak? Explain your reasoning. Cash Short-term Investments Accounts Receivable Merchandise Inventory Other Current Assets Total Current Assets All Other Assets Total Assets 2024 2023 $ 2,100 $ 1,800 26,000 14,000 7,300 5,600 6,800 5,900 11 ,000 1 ,700 53,200 29,000 28,000 27,000 $ 81,200 $ 56,000 2024 2023 Total Current Liabilities $ 27,000 $ 13,000 Long-term Liabilities 13'400 \"\"00 Total Liabilities 40,400 23,100 Stockholders' Equity Common Stock 12,000 12,000 Retained Earnings 28300 20300 Total Equity 40,800 32,900 56,000 Total Liabilities and Equity w $ Requirement 2. Compute the rate of return on total assets for 2024. Begin by selecting the formula to calculate Triumph's Companies' rate of return on total assets. Then enter the amounts and calculate the rate of return on total assets for 2024. (Round your answer to one tenth of a percent, X.X%.) ( + )+ ( + )+ Rate of return on total assets % Requirement 3. Compute the asset turnover ratio for 2024. Begin by selecting the formula to calculate Triumph's Companies' asset turnover ratio. Then enter the amounts and calculate the assets turnover ratio for 2024. (Round your answers to two decimal places, XXX.) Asset turnover ratio Requirement 4. Compute the rate of return on common stockholders' equity for 2024. Begin by selecting the formula to calculate Triumph's Companies' rate of return on common stockholders' equity. Then enter the amounts and calculate the rate of return on common stockholders' equity for 2024. (Abbreviation used: Avg. common SE = average common stockholders' equity. Complete all input boxes. Enter "0" for balances with a zero value. Round your answer to one tenth of a percent, X.X%.) Rate of return on common ( - )+ ( - )+ stockholders' equity % Requirement 5. Are these rates of return strong or weak? Explain your reasoning. (Assume the following industry averages: prot margin ratio = 22.8%, rate of return on total assets = 10.3%, asset turnover ratio = .54, rate of return on common stockholders' equity = 10.3%. These rates of return are V considering that V