Question 1 (6 marks) ASC Corporation lists the following data for 2016 and 2017: 2017 Net income Net sales Average total assets Average common equity 2016 $52,500 1,050,000 $ 40,000 1,000,000 230,000 200,000 170,000 160,000 Required: 1. Calculate the following financial ratios for both years 2016 and 2017: A. Net profit margin. B. Return on assets. C. Total asset turnover. D. Return on common equity. 2. Comment on the results. (For return on assets and total asset turnover, use end-of-year total assets; for return on common equity, use end-of-year common equity).