The financial statements of Isaacson Corporation follow: (Click the icon to view the assets section of the balance sheet.) (Click the icon to view the liabilities and stockholders' equity sections of the balance sheet.) (Click the icon to view the income statement.) Read the requirements. a. Compute the rate of return on sales for 2021. (Enter currency amounts in millions as given in the question. Ignore interest expense in your analysis and enter "0" for any zero balances. Round your answer to the nearest tenth of a percent, XX%.) Net income Preferred dividends Net sales $ 1,323 3300 Rate of return on sales % Requirements - Help me solve this Etext pages Get more help Calculate these profitability measures for 2021. Show each computation. a. Rate of return on sales. b. Asset turnover ratio. c. Rate of return on total assets. d. Leverage (equity multiplier) ratio. e. Rate of return on common stockholders' equity. f. Is Isaacson's profitability strong, medium, or weak? Print Done Final check Data table malys (Dollar amounts in millions) Assets Isaacson Corportion Balance Sheets (Adapted) December 31, 2021 and 2020 Increase (Decrease) 2021 2020 Amount Percentage Current assets: Cash and cash equivalents $ 1,230 $ 940 $ 290 30.9 % Short-term investments 20 60 (40) (66.7) Receivables, net 210 280 (70) (25.0) Inventories 366 90 276 306.7 Prepaid expenses and other assets 292 312 (20) (6.4) 2,118 1,682 436 Total current assets 25.9 Property, plant, and equipment, net 5,132 3,320 1,812 54.6 Intangible assets 1,040 898 142 15.8 830 730 100 Other assets 13.7 $ 9,120 $ 6,630 $ 2,490 Total assets 37.6 % Print Done - The financial statements of Isaacson Corporation follow: (Click the icon to view the assets section of the balance sheet.) (Click the icon to view the liabilities and stockholders' equity sections of the balance sheet.) (Click the icon to view the income statement.) Read the requirements. Data table Isaacson Corporation Balance Sheet (Adpated) December 31, 2021 and 2020 Increase (Decrease) (Dollar amounts in millions) Liabilities and Stockholders' Equity 2021 2020 Amount Percentage Current liabilities: Accounts payable a. Compute the rate of return on sales for 2021. (Enter currency amounts in millions as given in the question. Ignore interest expense in y Net income Preferred dividends ( 1,323 3300 ) Net sales = Rate of return on sales % Income tax payable Help me solve this Etext pages Get more help $ 940 $ 884 $ 35 65 56 (30) (46.2) 6.3% Short-term debt 135 100 35 35.0 81 86 (5) Other (5.8) 1,191 1,135 56 Total current liabilities 4.9 Long-term debt 5,451 3,013 2,438 80.9 Other liabilities 1,130 1,030 100 9.7 7,772 5,178 2,594 Total liabilities 50.1 Stockholders' equity: Print Done The financial statements of Isaacson Corporation follow: (Click the icon to view the assets section of the balance sheet.) (Click the icon to view the liabilities and stockholders' equity sections of the balance sheet.) (Click the icon to view the income statement.) Read the requirements. a. Compute the rate of return on sales for 2021. (Enter currency amounts in millions as given in the question. Ignore interest expense in y Net income Preferred dividends ($ 1,323 3300 Net sales = Rate of return on sales % = Help me solve this Etext pages Get more help Data table Isaacson Corporation Statements of Income (Adapted) Year Ended December 31, 2021 and 2020 (Dollar amounts in millions) 2021 2020 Net revenues $ 8,820 $ 9,200 2,280 4,900 Cost of goods sold X.X%.) Gross profit 6,540 4,300 3,300 3,500 General and administrative expenses Income from operations 3,240 800 180 120 Interest expense, net Income before income taxes 3,060 680 1,737 280 Provision for income taxes $ 1,323 $ 400 Net income Print Done Clear all Final check