Cowan Kitchen Counters, Inc. Comparative Income Statement For Years Ended December 31, 20-2 and 20-1 20-2 20-1 $2,584,000 1,868,200 $2,163,000 1,616,800 $546,200 Net Sales (all on account) Cost of goods sold Gross profit Operating expenses Other expense (interest) Income tax expense Net income 221,800 $715,800 315,200 24,200 176,800 $199,600 24,200 106,300 $193,900 Cowan Kitchen Counters, Inc. Comparative Balance Sheet December 31, 20-2 and 20-1 20-2 20-1 Cash $243,200 Government notes $255,400 250,000 903,500 250,000 797,500 983,600 913,600 Accounts receivable (net) Merchandise inventory Supplies and prepayments Land 47,500 143,200 108,200 108,200 330,000 Building (net) Office equipment (net) Total assets 17,700 390,600 15,000 $2,765,600 $2,991,600 Current liabilities (accounts payable) Bonds payable $703,000 220,000 $923,000 $532,000 240,000 $772,000 Total liabilities Common stock ($10 par, 180,000 shares) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $1,800,000 268,600 $2,068,600 $2,991,600 $1,800,000 193,600 $1,993,600 $2,765,600 Compute the following profitability measures for 20-2 (round all calculations to two decimal places). a. Profit margin ratio b. Return on assets c. Return on common stockholders' equity d. Earnings per share of common stock