Profitability Ratios Financial statements for Steele Inc. follow. Steele Inc. Consolidated Statements of Income (in thousands except per share amounts) 2023 2022 2021 Net sales $7,245,088 $6,944,296 $6,149,218 Cost of goods sold (5,286,253) (4,953,556) (4,355,675) Gross margin $1,958,835 $1,990,740 $1,793,543 General and administrative expenses (1,259,896) (1,202,042) (1,080,843) Special and nonrecurring items 2,617 0 0 Operating income $701,556 $788,698 $712,700 Interest expense (63,685) (62,398) (63,927) Other income 7,308 10,080 11,529 Gain on sale of investments 0 9,117 0 Income before income taxes $645,179 $745,497 $660,302 Provision for income taxes 254,000 290,000 257,000 Net income $391,179 $455,497 $403,302 Steele Inc. Consolidated Balance Sheets (in thousands) ASSETS Dec. 31, 2023 Dec. 31, 2022 Current assets: Cash and equivalents $320,558 $41,235 Accounts receivable 1,056,911 837,377 Inventories 733,700 803,707 Other 109,456 101,811 Total current assets $2,220,625 $1,784,130 Property and equipment, net 1,666,588 1,813,948 Other assets 254,392 248,372 Total assets $4,141,605 $3,846,450 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $250,363 $309,092 Accrued expenses 347,892 274,220 Other current liabilities 15,700 0 Income taxes 93,489 137,466 Total current liabilities $707,444 $720,778 Long-term debt 650,000 541,639 Deferred income taxes 275,101 274,844 Other long-term liabilities 61,267 41,572 Total liabilities $1,693,812 $1,578,833 Stockholders' equity: Preferred stock $100,000 $100,000 Common stock 89,727 89,727 Additional paid-in capitalcommon stock 128,906 127,776 Retained earnings 2,397,112 2,136,794 $2,715,745 $2,454,297 Less: Treasury stock, at cost (267,952) (186,680) Total stockholders' equity $2,447,793 $2,267,617 Total liabilities and stockholders' equity $4,141,605 $3,846,450 Use the information provided above and below to respond to the following requirements. Statement Item January 1, 2022 (in thousands) Total assets $3,485,233 Total stockholders equity 2,083,122 Required: Compute the five profitability ratios for 2022 and 2023. Round intermediate calculations and final answers to two decimal places. 2023 2022 Gross profit percentage fill in the blank 1 % fill in the blank 2 % Operating margin percentage fill in the blank 3 % fill in the blank 4 % Net profit margin percentage fill in the blank 5 % fill in the blank 6 % Return on assets fill in the blank 7 % fill in the blank 8 % Return on equity fill in the blank 9 % fill in the blank 10 %