Please help me with #6, for net profit margin ratio I tried 24,160/301,000 and it's wrong and for total asset turnover ratio and I have no clue.

It is your first day on the job as a trainee for an entry position in the accounting department of Alimex Inc., a merchandising company. The company controller provides you with the following unadjusted trial balance as at December 31, 2020, with accounts listed in alphabetical order: Debit Credit $ 33,000 $100,000 9,000 11,000 60,000 129,000 11, 240 Accounts payable Accounts receivable Accumulated depreciation, equipment Cash Contributed capital (15,000 shares) Cost of sales Deferred revenue Equipment, at cost Merchandise inventory Other operating expenses Note receivable, due December 31, 2021 Prepaid income taxes Prepaid rent Rent expense Retained earnings, January 1, 2020 Sales revenue Wages expense 60,000 18,200 1,400 24,000 1,040 16,800 11,000 70,000 301,000 111,800 $484,240 $ 484,240 Additional information is as follows: a. Wages owed to employees totalled $8,000 as at December 31, 2020. b. The note receivable was obtained by Alimex on September 1, 2020. The note carries an annual interest rate of 5 percent, payable to Alimex at maturity only. c. The balance in prepaid rent represents a payment August 1, 2020, for 12 months of rent, beginning on that date. d. The equipment has a useful life of 20 years. Depreciation expense for 2020 was estimated at $3,000. e. Cash dividends of $1 per share were declared on December 31, 2020, payable on January 25, 2021. f. The company is subject to an income tax rate of 20 percent. Income taxes are due March 15, 2021. Journal entries related to these transactions have not been recorded yet. Required: 1. Prepare the adjusting journal entries as at December 31, 2020. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet No Transaction General Journal Debit Credit 1 a. 8,000 Wages expense Wages payable 8,000 2 b. 400 Interest receivable Interest income 400 3 C. c 7,000 Rent expense Prepaid rent 7,000 4 d. 3,000 Depreciation expense Accumulated depreciation - equipment 3,000 5 e. 15,000 Retained earnings Dividend payable 15,000 6 f. 6,040 Income tax expense Prepaid income taxes Income taxes payable 1,040 5,000 2. Show the effects of the adjusting entries on net earnings and cash. (If there is no cash flow effect, select "None". Enter any decreases to account balances with a minus sign.) Transaction Effect on Net Effect on Cash a b. C. Earnings (8,000) None 400 None (7,000) None (3,000) None 0 None (6,040) None d. e. f. 3. Prepare a multiple-step statement of earnings for the year ended December 31, 2020. Alimex did not issue or repurchase any shares during 2020. (Round "Earnings per share" to 2 decimal places.) ALIMEX, INC. Statement of Earnings For the Year Ended December 31, 2020 Sales revenue $ 301,000 Cost of sales 129,000 172,000 Gross profit Operating expenses Depreciation expense Rent expense Wages expense Other operating expenses 3,000 18,000 119,800 1,400 142,200 29,800 Total operating expenses Earnings from operations Other income: Interest income 400 Earnings before income taxes Income tax expense Net earnings Earnings per share 30,200 6,040 24,160 1.61 $ $ 4. Prepare a classified statement of financial position as at December 31, 2020. ALIMEX, INC. Statement of Financial Position As at December 31, 2020 Assets Current assets: Cash Accounts receivable Merchandise inventory Interest receivable Note receivable Prepaid rent $ 11,000 100,000 18,200 400 24,000 9,800 163,400 48,000 $ 211,400 Total current assets Noncurrent Assets Equipment $ 60,000 Less: Accumulated depreciation 12,000 Total assets Liabilities and Shareholders' Equity Current liabilities: Accounts payable Dividends payable Income taxes payable Wages payable Deferred revenue 33,000 15,000 5,000 8,000 11,240 72,240 Total current liabilities Shareholders' equity Contributed capital Retained earnings 60,000 79,160 Total shareholders' equity Total liabilities and shareholders' equity 139,160 211,400 $ 5. Prepare the closing entries at December 31, 2020. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet No General Journal Credit Transaction 1 1 Sales revenue Interest income Income summary Debit 301,000 400 301,400 2 2 277,240 Income summary Depreciation expense Income tax expense Rent expense Wages expense Cost of sales Other operating expenses 3,000 6,040 18,000 119,800 129,000 1,400 3 3 24,160 Income summary Retained earnings 24,160 6. Compute the net profit margin ratio and total asset turnover for 2020. Total assets equalled $200,000 at January 1, 2020. (Round percentage answers to 2 decimal places (i.e., 0.1241 should be entered as 12.41).) Net profit margin ratio Total asset turnover ratio % %