Flounder Corporation Income Statements For the Years Ended December 31 2020 2019 Sales revenue Less: Sales returns and allowances Net sales Cost of goods sold Gross profit Operating expenses (including income taxes) Net income $742,000 $602,000 33,000 569,000 352,000 217,000 153,000 $.89,000 $ 64,000 43,000 699,000 427,000 272,000 183,000 Additional information 1. The market price of Flounder's common stock was $7.00, $7.50, and $8.50 for 2018, 2019, and 2020, respectively 2. You must compute dividends paid. All dividends were paid in cash Compute the following ratios for 2019 and 2020, (Round answers to 2 decimal places, eg. 1.83 or 1.83%.) 2020 2019 Profit margin 12.73 % 11.24 % ross profit rate 38.91 % 38.131 % Asset turnover 1.03 times 0.98 times Earnings per share Price-earnings ratio Payout ratio 2.76 2.05 3.07 times 3.65 times 81.4111 % 27.861 % 43.7711 % Debt to assets ratio 31.97 %