Crane Medical manufactures hospital beds and other institutional furniture. The company's comparative balance sheet and income statement for 2019 and 2020 follow. Crane Medical Comparative Balance Sheet As of December 31 2020 2019 Assets Current assets Cash Accounts receivable, net Inventory Other current assets Total current assets Property, plant, & equipment, net Total assets $395,000 1,044,000 717,000 381,300 2,537,300 8,705,975 $11,243,275 $417,450 776,450 681,100 247,000 2,122,000 8,439,980 $10,561,980 Liabilities and Stockholders' Equity Current liabilities Long-term debt Total liabilities Preferred stock, $5 par value $3,182,000 3,702,600 6,884,600 58,950 $2,846,000 3,892,650 6,738,650 58,950 104,650 4,195,075 103,850 3,660,530 Common stock, $0.25 par value Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 4,358,675 $11,243,275 3,823,330 $10,561,980 Crane Medical Comparative Income Statement and Statement of Retained Earnings For the Year 2020 2019 Sales revenue (all on account) $10,177,250 $9,614,000 Cost of goods sold 5,611,750 5,298,750 Gross profit 4,565,500 4,315,250 Operating expenses 2,840,300 2,634,200 Net operating income 1,725,200 1,681,050 Interest expense 300,350 308,650 Net income before taxes 1,424,850 1,372,400 Income taxes (30%) 427,455 411,720 Net income $997,395 $960,680 Dividends paid Preferred dividends 29,500 29,500 Common dividends 433,400 413,050 29,500 433,400 29,500 413,050 Dividends paid Preferred dividends Common dividends Total dividends paid Net income retained Retained earnings, beginning of year Retained earnings, end of year 462,900 442,550 534,545 3,660,530 $4,195,075 518,130 3,142,400 $3,660,530 Calculate the following profitability ratios for 2020. (Round answers to 1 decimal place, e.g. 50.1%.) a. Gross margin percentage % b. Return on assets % C. Return on common stockholders' equity % e Textbook and Media