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Question \#3 Sporting Collectibles reports the following condensed information. (LO 12-4) \begin{tabular}{|l|c|c|} \hline & 2024 & 2023 \\ \hline Income Statement Information & & \\ \hline Sales Revenue & $14,820,000 & $9,400,000 \\ \hline Costs of goods sold & 9,544,080 & 6,900,000 \\ \hline Net income & 418,000 & 348,000 \\ \hline & & \\ \hline Balance Sheet Information & & \\ \hline Current assets & $1,700,000 & $1,600,000 \\ \hline Long-term assets & 2,300,,000 & 2,000,000 \\ \hline \multicolumn{1}{|c|}{ Total assets } & $4,000,3,6000,000 \\ \hline & & \\ \hline Current liabilities & $1,300,000 & $1,000,000 \\ \hline Long-term liabilities & 1,400,000 & 1,400,000 \\ \hline Common stock & 900,000 & 900,000 \\ \hline Retained earnings & 400,000 & 300,000 \\ \hline \multicolumn{1}{|c|}{ Total liabilities and stockholder's } & $4,000,000 & $3,600,000 \\ equity & & \\ \hline \end{tabular} Required: 1. Calculate the following profitability ratios for 2024 : A. Gross profit ratio B. Return on assets C. Profit Margin D. Asset turnover E. Return on equity 2. Determine the number of dividends paid to shareholders in 2024