The following condensed information is reported by Sporting Collectibles. 2018 2017 Income Statement Information Sales revenue $ 14,820,000 $ 9,400,000 Cost of goods sold 9,544,080 6,900,000 Net income 418,000 348,000 Balance Sheet Information Current assets $ 1,700,000 $ 1,600,000 Long-term assets 2,300,000 2,000,000 Total assets $ 4,000,000 $ 3,600,000 Current liabilities $ 1,300,000 $ 1,000,000 Long-term liabilities 1,400,000 1,400,000 Common stock 900,000 900,000 Retained earnings 400,000 300,000 Total liabilities and stockholders' equity $ 4,000,000 $ 3,600,000 Required: 1. Calculate the following profitability ratios for 2018 Gross profit ratio % Return on assets % Profit margin % Asset turnover times Return on equity %