$($LO$12-4)$

The following income statement and balance sheets for The Athletic

Attic are provided.

Earninqs per share for the vear ended December $31,2024,$ are $$1\mathrm{.}22.$ The closing stock price on $$

Earnings per share for the year ended December $31,2024,$ are $$1\mathrm{.}22.$

The closing stock price on December $31,2024,$ is $$21\mathrm{.}02.$

Required:

Calculate the following profitability ratios for $2024.($Use $365$ days a

year. Round your final answers to $1$ decimal place.$)$Problem $12-5$B $($Algo$)$ Calculate profitability ratios $($LO$12-4)$

The following income statement and balance sheets for The Athletic Attic are provided.

THE ATHLETIC ATTIC

Income Statement

For the Year Ended December $31,2024$

Net sales $$8,760,000$

Cost of goods sold $5,380,000$

Gross profit $3,380,000$

Expenses:

Operating expenses $$1,530,000$

Depreciation expense $196,000$

Interest expense $36,000$

Income tax expense $346,000$

Total expenses $2,108,000$

Net income $$1,272,000$

THE ATHLETIC ATTIC

Balance Sheets

December $31$

$20242023$

Assets

Current assets:

Cash $$150,000$ $$200,000$

Accounts receivable $720,000740,000$

Inventory $1,335,0001,005,000$

Supplies $96,00071,000$

Long$-$term assets:

Equipment $1,080,0001,080,000$

Less: Accumulated depreciation $(392,000)(196,000)$

Total assets $$2,989,000$ $$2,900,000$

Liabilities and Stockholders' Equity

Current liabilities:

Accounts payable $$101,000$ $$77,000$

Interest payable $03,600$

Income tax payable $33,00029,600$

Long$-$term liabilities:

Notes payable $460,000460,000$

Stockholders' equity:

Common stock $560,000560,000$

Retained earnings $1,835,0001,769,800$

Total liabilities and stockholders$$ equity $$2,989,000$ $$2,900,000$

Earnings per share for the year ended December $31,2024,$ are $$1\mathrm{.}22.$ The closing stock price on December $31,2024,$ is $$21\mathrm{.}02.$

Required:

Calculate the following profitability ratios for $2024.($Use $365$ days a year. Round your final answers to $1$ decimal place.$)$