LICURIC SLALCHICHTL For the Year Ended December 31 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Interest expense Net income before taxes Income taxes (30%) Net income Required: Compute the following: $ 420,000 292,500 127,500 89,500 Account balances at the beginning of the year were: accounts receivable, $25,000; and inventory, $60,000. All sales were on account. Assets at the beginning of the year totaled $280,000, and the stockholders' equity totaled $161,600. 38,000 8,000 30,000 9,000 $ 21,000 1. Gross margin percentage. Note: Round your percentage answer to 2 decimal places (i.e., 0.1234 should be entered as 12.34). 1. Gross margin percentage 2. Net profit margin percentage 3. Return on total assets 4. Return on equity 5. Financial Leverage 2. Net profit margin percentage. Note: Round your answer to the nearest whole percentage place (i.e., 0.1234 should be entered as 12%). 3. Return on total assets. % % % % Note: Round your percentage answer to 1 decimal