Challenge Exercise 18-04 a-d Selected comparative statement data for Tyrone Company are presented below. All balance sheet data are as of December 31 2020 2019 Net sales $1,184,000 $1,110,000 Cost of goods sold 701,000 634,000 Interest expense 15,000 10,000 Net income 153,920 141,000 Accounts receivable 140,000 121,000 Inventory 100,000 95,000 Total assets 690,000 790,000 Preferred stock (6%) 198,000 198,000 Total stockholders' equity 623,000 518,000 Your answer is correct. Compute the profit margin for 2020. (Round answer to 1 decimal place, e.g. 15.2%.) Profit margin 13 % SHOW SOLUTION SHOW ANSWER LINK TO TEXT Your answer is correct Compute the asset turnover for 2020. (Round answer to 1 decimal place, e.g. 15. 2.) Asset turnover 1.6 times Your answer correct. Compute the retun on assets for 2020. (Round answer to 1 decimal place, e.g. 15.2%.) Return on assets 20.8 SHOW ANSWER SHOW SOLUTION LINK TO TEXT X Your answer incorrect. Try again. Compute the return on common stockholders' equity for 2020. (Round answer to 1 decimal place, e.g. 15.2%.) Return on common stockholders' equity 24. % Open Show Work Click if you would like to Show Work for this question: LINK TO TEXxT