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Oriole Medical manufactures hospital beds and other institutional furniture. The companys comparative balance sheet and income statement for 2019 and 2020 follow. Oriole Medical Comparative

Oriole Medical manufactures hospital beds and other institutional furniture. The companys comparative balance sheet and income statement for 2019 and 2020 follow.

Oriole Medical Comparative Balance Sheet As of December 31
2020 2019
Assets
Current assets
Cash $393,000 $417,400
Accounts receivable, net 1,077,000 776,450
Inventory 735,000 681,050
Other current assets 381,400 247,050
Total current assets 2,586,400 2,121,950
Property, plant, & equipment, net 8,639,160 8,440,060
Total assets $11,225,560 $10,562,010
Liabilities and Stockholders Equity
Current liabilities $3,165,000 $2,846,050
Long-term debt 3,702,600 3,892,700
Total liabilities 6,867,600 6,738,750
Preferred stock, $5 par value 58,950 58,950
Common stock, $0.25 par value 104,650 103,850
Retained earnings 4,194,360 3,660,460
Total stockholders equity 4,357,960 3,823,260
Total liabilities and stockholders equity $11,225,560 $10,562,010

Oriole Medical Comparative Income Statement and Statement of Retained Earnings For the Year
2020 2019
Sales revenue (all on account) $10,177,300 $9,613,950
Cost of goods sold 5,612,800 5,298,800
Gross profit 4,564,500 4,315,150
Operating expenses 2,840,200 2,634,150
Net operating income 1,724,300 1,681,000
Interest expense 300,300 308,700
Net income before taxes 1,424,000 1,372,300
Income taxes (30%) 427,200 411,690
Net income $996,800 $960,610
Dividends paid
Preferred dividends 29,550 29,550
Common dividends 433,350 413,000
Total dividends paid 462,900 442,550
Net income retained 533,900 518,060
Retained earnings, beginning of year 3,660,460 3,142,400
Retained earnings, end of year $4,194,360 $3,660,460

Calculate the following profitability ratios for 2020. (Round answers to 1 decimal place, e.g. 50.1%.)

a. Gross margin percentage %
b. Return on assets %
c. Return on common stockholders equity %

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