JKL Corp.’s end-of-year financial data includes:

Cash: $90,000

Accounts Receivable: $55,000

Inventory: $35,000

Accounts Payable: $15,000

Short-term Loans: $20,000

Common Stock: $75,000

Retained Earnings (beginning of the year): $40,000

Sales Revenue: $150,000

Cost of Goods Sold: $80,000

Operating Expenses: $30,000

Interest Expense: $4,000

Income Tax Expense: $10,000

Requirements:

Compute the gross profit.

Calculate the net income for the year.

Determine the current ratio.

Compute the return on equity (ROE).