Golden Corporation declared and paid $3,500 of cash dividends during the current year ended December 31. Its financial statements also reported the following summarized data: Current Previous Income Statement Sales revenue $185,000 110,000 75,000 54,400 3,100 17,500 3,500 $14,000 $205,000 120,000 85,000 58,300 3,200 23,500 7,050 $ 16,450 Cost of goods sold Gross profit Operating expenses Interest expense Income before income taxes Income tax expense Net income Balance Sheet Cash 3,950 24,000 45,000 50,000 8,500 25,500 40,000 43,000 Accounts receivable (net) Inventory Property and equipment (net) $122,950 $117,000 $ 15,000 Current liabilities Note payable (long-term) Common stock (par $5) Additional paid-in capital Retained earnings 22,500 50,000 33,000 5,500 6,000 $117,000 50,000 33,000 6,000 18,950 $122,950 Required: 1. Compute the gross profit percentage for the current and previous years. Are the current year results better, or worse, than those for the previous year? 2. Compute the net profit margin for the current and previous years. Are the current year results better, or worse, than those for the previous year? 3. Compute the earnings per share for the current and previous years. Are the current year results better, or worse, than those for the previous year? TIP: To calculate EPS, use the balance in Common Stock to determine the number of shares outstanding. Common Stock equals the par value per share times the number of shares. 4. Stockholders' equity totaled $33,000 at the beginning of the previous year. Compute the return on equity (ROE) ratios for the current and previous years. Are the current year results better, or worse, than those for the previous year? 5. Net property and equipment totaled $37,500 at the beginning of the previous year. Compute the fixed asset turnover ratios for the