Sunland Medical manufactures hospital beds and other institutional furniture. The company$$s comparative balance sheet and income statement for $2019$ and $2020$ follow.

Sunland Medical

Comparative Balance Sheet

As of December $31$

$20202019$

Assets

Current assets

Cash $$398,000$ $$417,450$

Accounts receivable, net $1,099,000776,450$

Inventory $746,000681,000$

Other current assets $381,350247,000$

Total current assets $2,624,3502,121,900$

Property, plant, & equipment, net $8,645,0558,440,010$

Total assets $$11,269,405$ $$10,561,910$

Liabilities and Stockholders$$ Equity

Current liabilities $$3,209,000$ $$2,846,050$

Long$-$term debt $3,702,6003,892,700$

Total liabilities $6,911,6006,738,750$

Preferred stock, $$5$ par value $59,00059,000$

Common stock, $$0\mathrm{.}25$ par value $104,650103,850$

Retained earnings $4,194,1553,660,310$

Total stockholders$$ equity $4,357,8053,823,160$

Total liabilities and stockholders$$ equity $$11,269,405$ $$10,561,910$

Sunland Medical

Comparative Income Statement and Statement of Retained Earnings

For the Year

$20202019$

Sales revenue $($all on account$)$ $$10,177,250$ $$9,613,900$

Cost of goods sold $5,612,7005,298,700$

Gross profit $4,564,5504,315,200$

Operating expenses $2,840,3002,634,200$

Net operating income $1,724,2501,681,000$

Interest expense $300,400308,700$

Net income before taxes $1,423,8501,372,300$

Income taxes $(30\%)427,155411,690$

Net income $$996,695$ $$960,610$

Dividends paid

Preferred dividends $29,55029,550$

Common dividends $433,350413,050$

Total dividends paid $462,900442,600$

Net income retained $533,845518,010$

Retained earnings, beginning of year $3,660,3103,142,300$

Retained earnings, end of year $$4,194,155$ $$3,660,310$

Calculate the following profitability ratios for $2020.$Calculate the following profitability ratios for $2020($Round answers to $1$ decimal place, e$.$g$.50\mathrm{.}1\%.)$Sunland Medical manufactures hospital beds and other institutional furniture. The company's comparative balance shest and income

statement for $2019$ and $2020$ follow.

Assets

Current assets

Liabilities and Stockholders' Equity

a$.$ Gross margin percentage

$\%$

b$.$ Return on assets

$\%$

c$.$ Return on common stockholders$$ equity

$\%$