P3-22 (similar to) Question Help Ratio proficiency McDougal Printing, Inc., had sales totaling $35,000,000 in fiscal year 2019. Some ratios for the company are listed below. Use this information to determine the dollar values of various income statement and balance sheet accounts as requested. Assume a 365-day year. McDougal Printing, Inc. Calculate values for the following: Year Ended December 31, 2019 a. Gross profits Sales $35,000,000 b. Cost of goods sold Gross profit margin 78% c. Operating profits d. Operating expenses Operating profit margin 33% e. Earnings available for common stockholders Net profit margin 7% f. Total assets Return on total assets 14.7% g. Total common stock equity Return on common equity 23% h. Accounts receivable Total asset turnover 2.1 Average collection period 59.6 days