The balance sheet and income statement for Joe's Fish Hut are presented below:

Joe's Fish Hut

Balance Sheet

As at October $31$

$20182017$

ASSETS

Current Assets

Cash $$190,462$ $$69,700$

Accounts receivable $$17,600$ $$12,400$

Merchandise Inventory $$20,500$ $$28,900$

Total Current Assets $$228,562$ $$111,000$

Property, plant & equipment $$141,000$ $$171,000$

Less: Accumulated depreciation $$-26,600$ $$-20,100$

TOTAL ASSETS $$342,962$ $$261,900$

LIABILITIES AND EQUITY

Liabilities

Current Liabilities

Accounts payable $$26,500$ $$36,300$

Notes Payable$-$Current Portion $$8,500$ $$8,500$

Total Current Liabilities $$35,000$ $$44,800$

Notes Payable$-$Noncurrent Portion $$82,000$ $$42,000$

TOTAL LIABILITIES $$117,000$ $$86,800$

Stockholders' Equity

Common stock $$82,000$ $$51,600$

Retained earnings $$143,962$ $$123,500$

TOTAL STOCKHOLDERS' EQUITY $$225,962$ $$175,100$

TOTAL LIABILITIES AND EQUITY $$342,962$ $$261,900$

Joe's Fish Hut

Income Statement

For the Year Ended October $31,2018$

Sales $$136,000$

COGS $$83,900$

Gross Profit $$52,100$

Operating Expenses

Insurance Expense $$950$

Rent Expense $$5,080$

Salaries Expense $$5,310$

Telephone Expense $$800$

Interest Expense $$1,980$

Depreciation Expense $$6,500$

Total Operating Expenses $$20,620$

Operating Profit Before Tax $$31,480$

Income Tax Expense $$11,018$

Net Profit $($Loss$)$ $$20,462$

Complete the following ratio analysis.

Do not enter dollar signs or commas in the input boxes.

Round all answers to $2$ decimal places.

a$)$ Calculate the gross profit margin for the $2018.$

Gross Profit Margin: Answer

$\%$

b$)$ Calculate the net profit margin for $2018.$

Net Profit Margin: Answer

$\%$

c$)$ Calculate the return on equity for $2018.$

Return on Equity: Answer

$\%$

d$)$ Calculate the return on assets for $2018.$

Return on Assets: Answer

$\%$

e$)$ Calculate the asset turnover ratio for $2018.$

Asset turnover: Answer

times