Earnings per share for the year ended December 31, 2018, are $1.30. The closing stock price on December 31, 2018, is $26.80.

Required:

Calculate the following profitability ratios for 2018. (Round your answers to 1 decimal place.)

The following income statement and balance sheets for Virtual Gaming Systems are provided. VIRTUAL GAMING SYSTEMS Income Statement For the year ended December 31, 2018 Net sales Cost of goods sold S3,011,000 1,945,000 Gross profit 1,066,000 Expenses Operating expenses Depreciation expense Loss on sale of land Interest expense Income tax expense 5853,000 27,000 7,500 12,500 43,000 Total expenses 943,000 Net income S 123,000 VIRTUAL GAMING SYSTEMS Balance Sheets December 31 2018 2017 Assets Current assets $139,000 55,000 130,000 5,400 Cash Accounts receivable $181,000 76,000 100,000 11,500 Prepaid rent Long-term assets Investment in bonds Land Equipment Less: Accumulated depreciation 100,000 205,000 265,000 (64,000) 235,000 205,000 (37,000) Total assets 5874,500 S732,400 Liabilities and Stockholders' Equity Current iabilities Accounts payable Interest payable Income tax payable 61,000 $ 5,000 105,900 2,500 13,500 12,500 280,000 295,000 Long-term liabilities Notes payable 220,000 Stockholders' equity Common stock Retained earnings 295,000 95,500 221,000 Total liabilities and stockholders' equity 874,500 $732,400 Earnings per share for the year ended December 31, 2018, are $1.30. The closing stock price on December 31, 2018, is $26.80 Required Calculate the following profitability ratios for 2018. (Round your answers to 1 decimal place.) Profitability Ratios 1 Gross profit ratio 2. Return on assets 3. Profit margin 4. Asset turnover 5. Return on equity 6. Price-earnings ratio times