Exercise 1210 (Algo) Calculate profitability ratios (LO12-4) The income statement for Stretch-Tape Corporation reports net sales of $400,000 and net income of $50,400. Average total assets for the year are $800,000. Stockholders' equity at the beginning of the year was $500,000, and $20,000 was paid to stockholders as dividends during the year. There were no other stockholders' equity transactions that occurred during the year. Required: Calculate the return on assets, profit margin, asset turnover, and return on equity ratios. (Round your answers to 1 decimal place.)