Carlo Works, Inc.'s comparative income statement follows. Use this information to calculate the following ratios. Carlo Works, Inc. Comparative Income Statement For Years Ending Dec. 31, 2020 and 2019 Net Sales Cost of Goods Sold 2020 2019 2018 191,000 158,000 95,000 88,000 Selling & Administration Exp. 46,900 40,700 Interest Expense Income Tax Expense Net Income 9,100 10,600 10,900 9,900 29,100 8,800 Additional Data: Total Assets 215,000 198,000 165,000 Common Stockholders' Equity 90,000 86,500 80,000 Preferred Dividends 2,100 2,200 0 Common Shares Outstanding 19,500 19,600 10,500 1. Calculate the profit margin ratio for 2020 and 2019. (Net income) / (Net Sales) = Profit margin ratio 2020: ( $ $ ) / % 2019: ( $ ) / ($ 2. Calculate the rate of return on total assets for 2020 and 2019. % (Net income + Interest expense) / (Average total assets) = 2020: ( $ + $ ) / ($ 2019: ( $ + $ ) / ($ 3. Calculate the asset turnover ratio for 2020 and 2019. (Net sales) / (Average total assets) 2020: ( $ / ($ 2019: ( $ / ($ = Asset turnover ratio = = = Rate of return on total assets = % 4. Calculate the rate of return on common stockholders' equity for 2020 and 2019. (Net income _ Preferred Dividends) / (Average Common Stockholders Equity) Return on Common Stockholders Equity = Rate of 2020: ( $ $ ) / ($ = 2019: ( $ $ ) / ($ Di 5. Calculate the earnings per share for 2020 and 2019. (Net income outstanding) 2020: ( $ 2019: ($ = Preferred Dividends) / (Weighted average number of common shares Earnings per share ) / ( $ = $ $ ) / ($ = $ 6. Calculate the 2020 dividend payout on common stock. Assume dividends per share for common stock are equal to $0.75 per share. (Annual dividend per share) / ( Earnings per share) 2020: ( $ ) / ($ = = Dividend payout %