Exercise 1210 (Algo) Calculate profitability ratios (LO12-4) The income statement for Stretch-Tape Corporation reports net sales of $361,900 and net income of $46,200. Average total assets for the year are $770,000. Stockholders' equity at the beginning of the year was $470,000, and $17,000 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.)