Select the formula reference in the last column of the table and compute the profit margin ratio for all five years. (Enter your answers as percentages rounded to the nearest tenth percent, XX%.) (Click the icon to view the formulas.) 2024 2023 2022 2021 2020 Formula Profit margin ratio % % % % % Formulas Ref. Formula (a.) 365 days + Inventory turnover (b.) Annual dividend per share + Earnings per share (c.) Annual dividend per share + Market price per share (d.) (Cash including cash equivalents + Short-term investments + Net current receivables) + Total current liabilities (e.) Cost of goods sold + Average merchandise inventory (f.) Current assets - Current liabilities (g.) Gross profit + Net sales revenue (h.) Market price per share of common stock + Earnings per share (i.) Net credit sales + Average net accounts receivables (-) (Net income + Income tax expense + Interest expense) + Interest expense (k.) Net income + Net sales (1.) (Net income + Interest expense) + Average total assets (m.) (Net income - Preferred dividends) + Average common stockholders equity (n.) (Net income - Preferred dividends) + Weighted average-number of common shares outstanding (o.) Total current assets + Total current liabilities (p.) Total liabilities + Total assets (q.) Total liabilities + Total equity WRN Athletic Supply, Inc. Five-Year Financial Summary (Partial; adapted) (Dollar amounts in thousands except per share data) Net Sales Revenue Net Sales Revenue Increase Domestic Comparative Store Sales Increase Other Income-Net Cost of Goods Sold Selling and Administrative Expenses Interest: Interest Expense Interest Income Income Tax Expense Net Income Per Share of Common Stock: Net Income Dividends Financial Position 2024 2023 2022 2021 2020 $ 245,000 $213,000 $ 192,000 $ 165,000 $ 136,000 15% 11% 16% 21% 17% 5% 7% 4% 8% 9% 2,030 1,870 1,710 1,640 1,380. 185,220 162,519 148,608 129,030 107,712 41,290 36,390 31,610 27,430 22,570 (1,010) (1,390) (1,360) (1,070) (810) 120 185 180 185 170 4,410 3,860 3,610 3,360 2,720 15,220 10,896 8,702 5,935 3,738 1.30 1.00 0.90 0.70 0.48 0.40 0.38 0.34 0.30 0.26 Current Assets. Excluding Merchandise Inventory $ 30.300 $ 27.300 $ 27.100 $ 25.000 $ 21.000 2019 Financial Summary Interest Expense Interest Income Income Tax Expense Net Income Per Share of Common Stock: Net Income Dividends (1,010) (1,390) (1,360) (1,070) (810) 120 185 180 185 170 4,410 3,860 3,610 3,360 2,720 15,220 10,896 8,702 5,935 3,738 1.30 1.00 0.90 0.70 0.48 0.40 0.38 0.34 0.30 0.26 Financial Position Current Assets, Excluding Merchandise Inventory $ 30,300 $ 27,300 $ 27,100 $ 25,000 $ 21,000 Merchandise Inventory Property, Plant, and Equipment, Net Total Assets Current Liabilities Long-term Debt Stockholders' Equity 25,100 23,000 51,100 45,700 106,500 96,000 32,200 27,800 22,200 20,900 22,100 19,700 18,100 $ 17,100 41,100 35,200 25,400 90,300 79,900 64,500 28,800. 25,900 16,600 17,400 18,100 13,100 52,100 47,300 44,100 35,900 34,800 Financial Ratios Acid-Test Ratio 0.9 1.0 0.9 1.0 1.3 Rate of Return on Total Assets 16.0% 13.2% 11.8% 9.7% 8.7% Rate of Return on Stockholders' Equity 30.6% 23.8% 21.8% 16.8% 16.3%