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The following condensed information is reported by Sporting Collectibles. Income Statement Information Sales revenue Cost of goods sold Net income Balance Sheet Information Current assets

The following condensed information is reported by Sporting Collectibles.
Income Statement Information
Sales revenue
Cost of goods sold
Net income
Balance Sheet Information
Current assets
Long-term assets
Total assets
Current liabilities
Long-term liabilities
Common stock
Retained earnings
Total liabilities and stockholders' equity
2021
$11,284,000
7,357,168
371,280
$1,620,000
2,220,000$3,840,0001,920,000$1,220,000$3,440,000$920,000
1,480,000,1,480,000
820,000,820,000
320,000$3,840,000220,000$3,440,000
Required:
Calculate the following profitability ratios for 2021: (Round your answers to 1 decimal place.)
\table[[Profitability Ratios,],[a.,Gross profit ratio,%
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