oints: 0 Of ULVE Shine's Companies, a home improvement store chain, reported the following summarized figures: (Click the icon to view the income statement.) (Click the icon to view the balance sheets.) Shine's has 20,000 common shares outstanding during 2024. Read the requirements. Requirement 1. Compute the profit margin ratio for Shine's Companies for 2024. Begin by selecting the formula to calculate Shine's Companies' profit margin ratio. Then enter the amounts and calculate the profit margin ratio for 2024. (Round your answer to one tenth of a percent. X.X%) Profit margin ratio - x Income statement Shine's Companies calc Income Statement Years Ended May 31, 2024 and 2023 2024 in ra 2023 Net Sales Revenue $ 55,400 $ 50,700 Cost of Goods Sold 22,500 23,700 Interest Expense 300 140 5,800 8,400 All Other Expenses $ 26,800 $ 18,460 Net Income Print Done Balance sheets Shine's Companies Balance Sheet May 31, 2024 and 2023 Assets Liabilities 2024 2023 2024 2023 2,300 $ Total Current 1.700 Liabilities $ 21,000 $ 13,100 27,000 13,000 Long-term Liabilities 13,900 10,700 7,400 5,400 Total Liabilities 34,900 23,800 Cash Short-term Investments Accounts Receivable Merchandise Inventory Other Current Assets Total Current Assets 6,800 8,200 Stockholders' Equity 7,000 1,800 Common Stock 11,000 11,000 50.500 30.100 Retained Earnings 32,600 22,300 Print Done reme Requirements by se margi 1. Compute the profit margin ratio for Shine's Companies for 2024. 2. Compute the rate of return on total assets for 2024. 3. Compute the asset turnover ratio for 2024. 4. Compute the rate of return on common stockholders' equity for 2024. 5. Are these rates of return strong or weak? Explain your reasoning. Print Done