PLASMA SCREENS CORPORATION Balance Sheets December 31, 2021 and 2020 2021 2020 $ $ 189,880 64,000 88,000 3,300 113,000 85,000 73,000 1,300 410,000 720,000 (358,000) $1,117,180 410,000 600,000 (198,000) $1,084,300 Assets Current assets: Cash Accounts receivable Inventory Investments Long-term assets: Land Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity $ $ 91,600 5,500 7,500 78,000 11,300 4,300 120,000 240,000 630,000 630,000 262,580 120,700 $1,117,180 $1,084,300 Additional information for 2021: 1. Net income is $141,880. 2. Sales on account are $1,281,400. 3. Cost of goods sold is $1,014,300. Required: 1. Calculate the following profitability ratios for 2021: (Round your answers to 1 decimal place.) Profitability Ratios a. Gross profit ratio b. Return on assets c. Profit margin d. Asset turnover e. Return on equity times