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 2021 2020 $11,712,000 $8,700,000 7,624,512 6,200,000 376,980 278,000 $ 1,630,000 $1,530,000 2,230,000 1,930,000 $ 3,860,000 $3,460,000 $ 1,230,000 $ 930,000 1,470,000 830,000 330,000 1,470,000 830,000 230,000 Total liabilities and stockholders' equity $ 3,860,000 $3,460,000 Required: 1. Calculate the following profitability ratios for 2021: (Round your answers to 1 decimal place.) Profitability Ratios a. Gross profit ratio % b. Return on assets % c. Profit margin % d. Asset turnover times e. Return on equity %