Consider the following financial data from the past year for Midwest Outdoor Equipment Corporation.

Annual sales	$24,324,000
Net income	2,975,000
Cost of goods sold	12,600,000
Total assets	10,550,000
Inventory	2,875,000
Receivables	3,445,000

a. Compute the profit margin. (Round your answer to 3 decimal places.)

b. Compute the asset turnover ratio. (Round your answer to 3 decimal places.)

c. Compute the return on assets ratio. (Round your answer to 3 decimal places.)

please provide the equations as well. Thanks.