E17-20 Analyzing profitability Micatin, Inc.'s comparative income statement follows. The 2017 data are given as needed. 2017 MICATIN INC. Comparative Income Statement Years Ended December 31, 2019 and 2018 Dollars in thousands 2019 2018 Net Sales Revenue $ 181,000 $160,000 Cost of Goods Sold 93,500 86,500 Selling and Administrative Expenses 45,000 40,500 Interest Expense 8,000 12,000 Income Tax Expense 11,000 10,500 Net Income $ 23,500 $ 10,500 Additional data: Total Assets Common Stockholders' Equity Preferred Dividends Common Shares Outstanding During the Year $ 209,000 96,000 2,000 15,000 $ 187,000 91,500 2,000 15,000 $167,000 80,500 10,000 Requirements 1. Calculate the profit margin ratio for 2019 and 2018. 2. Calculate the rate of return on total assets for 2019 and 2018. 3. Calculate the asset turnover ratio for 2019 and 2018. 4. Calculate the rate of return on common stockholders' equity for 2019 and 2018, 5. Calculate the earnings per share for 2019 and 2018. 6. Calculate the 2019 dividend payout on common stock. Assume dividends per share for common stock are equal to $1.13 per share. 7. Did the company's operating performance improve or deteriorate during 2019