Income Statement Information Sales revenue Cost of goods sold Net income Balance Sheet Information Current assets Long-term assets Total assets Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and stockholders' equity Profitability Ratios a. Gross profit ratio b. Return on assets C. Profit margin d. Asset turnover e. Return on equity 2021 % % % times % $11,284,000 7,357,168 371,280 $ 1,620,000 2,220,000 $ 3,840,000 $ 1,220,000 1,480,000 820,000 320,000 $ 3,840,000 2020 Required: 1. Calculate the following profitability ratios for 2021: (Round your answers to 1 decimal place.) $8,600,000 6,100,000 268,000 $1,520,000 1,920,000 $3,440,000 $ 920,000 1,480,000 820,000 220,000 $3,440,000

Required: 1. Calculate the following profitability ratios for 2021: (Round your answers to 1 decimal place.)