Measures of Performance and Financial Leverage

Following are selected data from year$-$end financial statements of Lima Corporation for its first two years of operations.

Year $2$ Year $1$

Total assets $$3,895,000$ $$3,260,000$

Interest expense $47,50042,000$

Long$-$term liabilities $625,000680,000$

Net income $532,055486,500$

Sales $4,829,6253,940,000$

Stockholders' equity $2,766,6862,553,864$

Round percentages to one decimal place. $($Example: $0\mathrm{.}11567=11\mathrm{.}6\%)$

a$.$ Compute the following performance measurement ratios for the second year of operations. $($Ignore income taxes.$)$

$1.$ Asset turnover $($Round answer to two decimal places.$)$

$2.$ Return on sales $\%$

$3.$ Return on assets $\%$

$4.$ Return on equity $\%$