Ivanhoe Medical manufactures hospital beds and other institutional furniture. The company$$s comparative balance sheet and income statement for $2019$ and $2020$ follow.

Ivanhoe Medical

Comparative Balance Sheet

As of December $31$

$20202019$

Assets

Current assets

Cash $$380,000$ $$417,500$

Accounts receivable, net $1,035,000776,500$

Inventory $726,000681,050$

Other current assets $381,400247,000$

Total current assets $2,522,4002,122,050$

Property, plant, & equipment, net $8,738,6258,439,845$

Total assets $$11,261,025$ $$10,561,895$

Liabilities and Stockholders$$ Equity

Current liabilities $$3,201,000$ $$2,846,100$

Long$-$term debt $3,702,6503,892,600$

Total liabilities $6,903,6506,738,700$

Preferred stock, $$5$ par value $58,90058,900$

Common stock, $$0\mathrm{.}25$ par value $104,700103,900$

Retained earnings $4,193,7753,660,395$

Total stockholders$$ equity $4,357,3753,823,195$

Total liabilities and stockholders$$ equity $$11,261,025$ $$10,561,895$

Ivanhoe Medical

Comparative Income Statement and Statement of Retained Earnings

For the Year

$20202019$

Sales revenue $($all on account$)$ $$10,177,200$ $$9,613,900$

Cost of goods sold $5,613,1505,298,750$

Gross profit $4,564,0504,315,150$

Operating expenses $2,840,2502,634,150$

Net operating income $1,723,8001,681,000$

Interest expense $300,400308,650$

Net income before taxes $1,423,4001,372,350$

Income taxes $(30\%)427,020411,705$

Net income $$996,380$ $$960,645$

Dividends paid

Preferred dividends $29,55029,550$

Common dividends $433,450413,050$

Total dividends paid $463,000442,600$

Net income retained $533,380518,045$

Retained earnings, beginning of year $3,660,3953,142,350$

Retained earnings, end of year $$4,193,775$ $$3,660,395$

Calculate the following profitability ratios for $2020.($Round answer to $2$ decimal places$)$

a$.$ Return on Assets:

b$.$ Return on common stockholders$$ equity:

c$.$ Acid$-$test ratio: