he balance sheet and income statement for Joe's Fish Hut are presented below:

Joe's Fish Hut

Balance Sheet

As at December $31$

$20232022$

ASSETS

Current Assets

Cash $$162,535$ $$60,100$

Accounts receivable $$23,000$ $$12,200$

Merchandise Inventory $$24,200$ $$28,700$

Total Current Assets $$209,735$ $$101,000$

Property, plant & equipment $$135,000$ $$189,000$

Less: Accumulated depreciation $$-26,000$ $$-21,300$

TOTAL ASSETS $$318,735$ $$268,700$

LIABILITIES AND EQUITY

Liabilities

Current Liabilities

Accounts payable $$32,800$ $$40,900$

Notes Payable$-$Current Portion $$9,700$ $$9,700$

Total Current Liabilities $$42,500$ $$50,600$

Notes Payable$-$Long$-$Term Portion $$71,000$ $$42,000$

TOTAL LIABILITIES $$113,500$ $$92,600$

Shareholders' Equity

Common shares $$67,000$ $$58,600$

Retained earnings $$138,235$ $$117,500$

TOTAL SHAREHOLDERS' EQUITY $$205,235$ $$176,100$

TOTAL LIABILITIES AND EQUITY $$318,735$ $$268,700$

Joe's Fish Hut

Income Statement

For the Year Ended December $31,2023$

Sales $$133,000$

COGS $$83,500$

Gross Profit $$49,500$

Operating Expenses

Insurance Expense $$1,450$

Rent Expense $$5,050$

Salaries Expense $$4,020$

Telephone Expense $$620$

Interest Expense $$1,760$

Depreciation Expense $$4,700$

Total Operating Expenses $$17,600$

Operating Profit Before Tax $$31,900$

Income Tax Expense $$11,165$

Net Profit $($Loss$)$ $$20,735$

Complete the following ratio analysis.

Do not enter dollar signs or commas in the input boxes.

Round all answers to $2$ decimal places.

a$)$ Calculate the gross profit margin for the $2023.$

Gross Profit Margin: Answer

$\%$

b$)$ Calculate the net profit margin for $2023.$

Net Profit Margin: Answer

$\%$

c$)$ Calculate the return on equity for $2023.$

Return on Equity: Answer

$\%$

d$)$ Calculate the return on assets for $2023.$

Return on Assets: Answer

$\%$

e$)$ Calculate the asset turnover ratio for $2023.$

Asset turnover: Answer

times