cise 17-9 Measuring K Question 2, SF17-9 (similar to) Part 1 of 9 Achieve's Companies, a home improvement store chain, reported the following summarized figures: (Click the icon to view the income statement.) (Click the icon to view the balance sheets.) Achieve's has 20,000 common shares outstanding during 2024. Read the requirements. HW Score: 0%, 0 of 5 points O Points: 0 of 4 Requirement 1. Compute the profit margin ratio for Achieve's Companies for 2024. Begin by selecting the formula to calculate Achieve's Companies' profit margin ratio. Then enter the amounts and calculate the profit margin ratio for 2024. (Round your answer to o percent, XX%) ncome Statement Achieve's Companies Income Statement Years Ended May 31, 2024 and 2023 - 2024 2023 Net Sales Revenue $ 46,500 S 41,600 Cost of Goods Sold 20,600 23,700 Interest Expense 200 140 7,500 7,800 All Other Expenses S 18,200 S 9,960 Net Income = Profit margin ratio Requirements 1. Compute the profit margin ratio for Achieve's Companies for 2024. 2. Compute the rate of return on total assets for 2024. 3. Compute the asset turnover ratio for 2024. 4. Compute the rate of return on common stockholders' equity for 2024. 5. Are these rates of return strong or weak? Explain your reasoning. Print Done - X Clear all Chec Achieve's Companies, a home improvement store chain, reported the following summarized figures! EEB (Click the icon to view the income statement.) Achieve's has 20,000 common shares outstanding during 2024 (Click the icon to view the balance sheets.) Read the requirements. Req Beg per pages Balance Sheets Achieve's Companies Balance Sheet May 31, 2024 and 2023 Assets Liabilities 2024 2023 2024 2023 Cash S 2,500 $ Short-term Investments 26,000 Accounts Receivable 7,400 1,900 Total Current Liabilities 13,000 Long-term Liabilities 5,500 Total Liabilities $ 22,000 $ 12,800 13,300 12,700 35,300 25,500 Merchandise Inventory 7,200 5,900 Stockholders' Equity Other Current Assets. 11,000 2,400 Common Stock 12,000 12,000 Total Current Assets 54,100 28,700 Retained Earnings 39,800 17.200 All Other Assets 33,000 26,000 Total Equity 51,800 29,200 $ Total Assets 87,100 S 54,700 Total Liabilities and Equity 5 87,100 S 54,700 Print Done (Round your answer to one tenth of a ear all Check answer