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The comparative financial statements for Chinook Company are below Year 2 Year 1 Income statement Sales revenue $ 198,000 $ 169,000 Cost of goods sold

The comparative financial statements for Chinook Company are below

Year 2 Year 1
Income statement
Sales revenue $ 198,000 $ 169,000
Cost of goods sold 114,000 100,800
Gross profit 84,000 68,200
Operating expenses and interest expense 56,800 53,400
Pretax income 27,200 14,800
Income tax 8,800 4,400
Net income $ 18,400 $ 10,400
Balance sheet
Cash $ 4,800 $ 7,400
Accounts receivable (net) 14,400 18,400
Inventory 40,800 35,600
Property and equipment (net) 46,200 38,800
Total assets $ 106,200 $ 100,200
Current liabilities (no interest) $ 16,400 $ 17,400
Long-term liabilities (interest rate: 10%) 45,400 45,400
Common stock ($5 par value, 6,400 shares outstanding) 32,000 32,000
Retained earnings 12,400 5,400
Total liabilities and stockholders' equity $ 106,200 $ 100,200

2. Compute return on assets, total asset turnover, and the net profit margin for Year 2.

Note: Round your answers to 2 decimal places.

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