The following condensed information is reported by Sporting Collectibles.

	2021				2020
Income Statement Information
Sales revenue	$	8,400,000			$	7,900,000
Cost of goods sold		5,535,600				5,400,000
Net income		332,500				198,000
Balance Sheet Information
Current assets	$	1,550,000			$	1,450,000
Long-term assets		2,150,000				1,850,000
Total assets	$	3,700,000			$	3,300,000
Current liabilities	$	1,150,000			$	850,000
Long-term liabilities		1,550,000				1,550,000
Common stock		750,000				750,000
Retained earnings		250,000				150,000
Total liabilities and stockholders' equity	$	3,700,000			$	3,300,000

Required: 1. Calculate the following profitability ratios for 2021: (Round your answers to 1 decimal place.)

2. Determine the amount of dividends paid to shareholders in 2021.

The following condensed information is reported by Sporting Collectibles. 2021 2020 Income Statement Information Sales revenue $8,400,000 5,535,600 $7,900,000 5,400,000 Cost of goods sold Net income 332,500 198,000 Balance Sheet Information $1,450,000 1,850,000 $3,700,000 $3,300,000 Current assets $1,550,000 2,150,000 Long-term assets Total assets $ 850,000 Current liabilities Long-term liabilities $1,150,000 1,550,000 1,550,000 750,000 Common stock 750,000 Retained earnings 250,000 $3,700,000 150,000 Total liabilities and stockholders' equity $3,300,000 Required: Calculate the following profitability ratios for 2021: (Round your answers to 1 decimal place.) Profitability Ratios Gross profit ratio a. b. Return on assets c. Profit margin d. Asset tumover e. Return on equity times 2. Determine the amount of dividends paid to shareholders in 2021. The amount of dividends paid