Hower Co. had sales of $10,000,000, a gross margin of $4,000,000,

an operating income of $1,500,000, and net income of $1,000,000.

Total assets

were $20,000,000, and shareholders'

equity

Wa

$5,000,000. There were 2,000,000 shares in issue.

Required

Calculate the following:

(a) Gross margin as % of sales

(b)

Operating income as % of sales

(c)

Operating income as % of total assets

(d)

Return on shareholders'

equity

(e)

Earnings per share