Profibility ratios

VIRTUAL GAMING SYSTEMS Income Statements For the Years Ended December 31 \begin{tabular}{lrr} Net sales & 2025 & 2024 \\ Cost of goods sold & $3,560,000 & $3,086,00 \\ Gross profit & 2,490,000 & 1,960,000 \\ Expenses: & 1,070,000 & 1,126,00 \\ Operating expenses & & \\ Depreciation expense & 965,000 & 868,00 \\ Loss on sale of land & 40,000 & 32,000 \\ Interest expense & 0 & 9,000 \\ Income tax expense & 23,000 & 20,00 \\ Total expenses & 9,000 & 53,000 \\ Net income & 1,037,000 & 982,00 \\ \hline \end{tabular} VIRTUAL GAMING SYSTEMS VIRTUAL GAMING SYSTEMS Balance Sheets December 31 202520242023 Assets Currerit assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds Land Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders" Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term 1iabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity 2. Calculate the following profitability ratios for 2024 and 2025: (Round your answers to 1 decimal place.)