Solve the question.

Financial Analysis Background The income statement for Western Grain Company, a producer of agricultural products for industrial as well as consumer markets, is shown here. Western Grain's total assets are $4,237.1 million, and its equity is $1,713.4 million Consolidated Earnings and Retained Earnings Year Ended December 31 Earnings before income taxes Income taxes Net earnings (Net earnings per share) Retained earnings, beginning of year Dividends paid Retained earnings, end of year 1,034.1 353.4 680.7 $ 2.94 3,033.9 (305.2) $3,409.4 2017 (Millions) Net sales Cost of goods sold Selling and administrative expense Operating profit Interest expense Other income (expense), net $6,295.4 2,989.0 2,237.5 1,068.9 33.3 Task Calculate the following profitability ratios: profit margin, return on assets, and return on equity. Assume that the indus- try averages for these ratios are as follows: profit margin, 12 percent; return on assets, 18 percent; and return on equity, 25 percent. Evaluate Western Grain's profitability relative to the industry averages. Why is this information useful? (1.5)