Because you own the common stock of Phantom Corporation, a paper manufacturer, you decide to analyze the firm's performance for the most recent year. The following data are taken from the firm's latest annual report:

Ratios Compared with Industry Averages Because you own the common stock of Phantom Corporation, a paper manufacturer, you decide to analyze the firm's performance for the most recent year. The following data are taken from the firm's latest annual report: Dec. 31, 2016 Dec. 31, 2015 Quick assets $700,000 $552,000 Inventory and prepaid expenses 372,000 312,000 Other assets 4.738.000 4200.000 Total Assets $5,860,000 $5,064,000 Current liabilities $724,000 $564,000 10% Bonds payable 1,440,000 1,440,000 8% Preferred stock, $100 par value 480,000 480,000 Common stock, $10 par value 2,700,000 2,160,000 Retained earnings 515-000 420-000 Total Liabilities and Stockholders' Equity 35.350900 355954.000 For 2016, net sales amount to $1 '| 280,000, net income is $575,000, and preferred stock dividends paid are $42,000. Required Calculate the following ratios for 2016. Round answers to two decimal places. 1. Return on sales % 2. Return on assets % 3. Return on common stockholders' equity %