Joe's Fish Hut Balance Sheet As at March 31 \begin{tabular}{|l|l|} 2018 & 2017 \\ \hline \end{tabular} ASSETS Current Assets Cash Accounts receivable Merchandise Inventory Total Current Assets $201,964$93,900 Property, plant \& equipment $132,000$182,000 Less: Accumulated depreciation \begin{tabular}{|l|r|} $26,000 & $20,800 \\ \hline$307,964 & $255,100 \\ \hline \end{tabular} LIABILITIES AND EQUITY Liabilities Current Liabilities Accounts payable Notes Payable-Current Portion Total Current Liabilities Notes Payable-Noncurrent Portion $79,000$59,000 TOTAL LIABILITIES $115,300$104,100 Stockholders' Equity Common stock $72,000$50,200 Current Assets Joe's Fish Hut Income Statement For the Year Ended March 31, 2018 \begin{tabular}{|l|r|} \hline Sales & $134,000 \\ \hline COGS & $85,500 \\ \hline Gross Profit & $48,500 \\ \hline Operating Expenses & $830 \\ \hline Insurance Expense & $4,570 \\ \hline Rent Expense & $5,230 \\ \hline Salaries Expense & $5710 \\ \hline Telephone Expense & $1,400 \\ \hline Interest Expense & $5,200 \\ \hline Depreciation Expense & $17,940 \\ \hline Total Operating Expenses & $30,560 \\ \hline Operating Profit Before Tax & $10,696 \\ \hline Income Tax Expense & $19,864 \\ \hline Net Profit (Loss) & \\ \hline \end{tabular} Complete the following ratio analysis. Do not enter dollar signs or commas in the input boxes. Round all answers to 2 decimal places. a) Calculate the gross profit margin for the 2018. Gross Profit Margin: b) Calculate the net profit margin for 2018. Net Profit Margin: % C) Calculate the return on equity for 2018. Return on Equity: d) Calculate the return on assets for 2018. Return on Assets: e) Calculate the asset turnover ratio for 2018 . Asset turnover: times