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The Intramural Sports Club reports sales revenue of $656,000. Inventory at both the beginning and end of the year totals $120,000. The inventory turnover ratio for the year is 4.2. What amount of gross profit does the company report in its income statement? THE INTRAMURAL SPORTS CLUB Income Statement (partial) BC Training reports sales revenue of $2,900,000. Average inventory during the year was $130,000. The inventory turnover ratio for the year is 8.0. What amount of gross profit would the company report in its income statement? Gross profit The income statement for a company reports net sales of $349,600 and net income of $44,840. Average total assets for the year are $760,000. Stockholders' equity at the beginning of the year was $460,000, and $16,000 was paid to stockholders as dividends during the year. There were no other stockholders' equity transactions that occurred during the year. Required: Calculate the return on assets, profit margin, asset turnover, and return on equity ratios. (Round your answers to 1 decimal place.) % Profitability Ratios Return on assets Profit margin Asset turnover Return on equity % times