Blossom Medical Comparative Income Statement and Statement of Retained Earnings For the Year 2020 2019 Sales revenue (all on account) $10.177,300 $9.614.000 Cost of goods sold 5,613,550 5,298.750 Gross profit 4,563.750 4,315,250 Operating expenses 2.840,300 2,634,150 Net operating income 1.723,450 1,681,100 Interest expense 300,400 308.700 Net income before taxes 1,423,050 1,372,400 Income taxes (30%) 426,915 411,720 Net Income $996.135 $960,680 Dividends paid Preferred dividends 29,500 29,450 Common dividends 43350 413.000 Total dividends paid 462.950 442,450 Net Income retained 533,185 518,230 Retained earnings, beginning of year 3,660,530 3,142,300 Retained earnings, end of year $4,193,715 $3,660,530 Calculate the following profitability ratios for 2020. (Round answers to 1 decimal place, 68.50.1%) Gross margin percentage 448 % b. Return on assets c. Return on common stockholders equity 243 Blossom Medical manufactures hospital beds and other institutional furniture. The company's comparative balance sheet and income statement for 2019 and 2020 follow. 2019 Blossom Medical Comparative Balance Sheet As of December 31 2020 Assets Current assets Cash $366,000 Accounts receivable, net 1.038.000 Inventory 733.000 Other current assets 381.400 Total current assets 2,518,400 Property, plant, & equipment, net 8,710,515 Total assets $11.228.9.15 $417.500 776.400 681,000 247.000 2.121.900 8,440.030 $10,561.930 Liabilities and Stockholders' Equity Current liabilities Long-term debt Total liabilities Preferred stock. $5 par value Common stock. $0.25 par value Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $3,169.000 3,702.600 6.871,600 58,900 104.700 4.193,715 4.357.315 $11.228.915 $2,846.000 3,892.600 6.738.600 59.000 103.800 3.660.530 3,823.330 $10.561.930 Blossom Medical Comparative Income Statement and Statement of Retained Earnings For the Year 2020 2019 Sales revenue Call on account) 510.177.300 $9.614.000 Cost of goods sold 5.613.550 5.298,750 Gross pro 4.563.750 4.315.250