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The following income statement and balance sheets for Virtual Gaming Systems are provided. VIRTUAL GAMING SYSTEMS Income Statement For the year ended December 31, 2021 Net sales $3,871, e90 Cost of goods sold 1,957, Bee Gross profit 1.114, eee Expenses: Operating expenses $865, een Depreciation expense 27.ege LOSS on sale of land 8, Yee Interest expense 18, 588 Income tax expense 55. eee Total expenses 974, 2ee Net income $ 139,880 VIRTUAL GAMING SYSTEMS Balance Sheets December 31 2821 zaza $193,888 88,888 112, de 12,70e $151, eee 67, eee 142, eve 6,840 Assets Current assets Cash Accounts receivable Inventory Prepaid rent Long-term assets: investment in bonds Land Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-ters 1labilities: Notes payable Stockholders' equity Common stock Retained earnings Total liabilities and stockholders' equity 112,890 217, eee 277, eee (76.000 $935,78 247, Bee 217. Bee (49, Bee $781,840 $ 23,000 7.480 18,500 $ 122,94e 3.700 14,700 292,00 232,000 307, ese 2.32.00 5935,700 30,000 101 500 $781,840 Fanni Earnings per share for the year ended December 31, 2021, are $1.40. The closing stock price on December 31 2021, is $28.00 Required: Calculate the following profitability ratios for 2021. (Round your answers to 1 decimal place.) Profitability Ratios Gross profit ratio 12. Pelum assets 12. Profit margin Aumove 5 Return on equity Price canings ratio times