Question
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 a b. C d e. 2 D Required: 1. Calculate the following profitability ratios for 2021: (Round your answers to 1 decimal place.) Answer is complete but not entirely correct. Profitability Ratios Gross profit ratio Return on assets Profit margin Asset turnover Return on equity 34.9 % 10.3 % 3.2 X % 3.2 34.0% 2021 times $13,912, 000 8,987,152 406,080 2020 $9,200,000 6,700,000 328,000 $1,680,000 $1,580,000 2,280,000 1,980,000 $3,560,000 $ 3,960,000 $ 1,280,000 1,420,000 880,000 380,000 $ 3,960,000 $3,560,000 $ 980,000 1,420,000 880,000 280,000
The followina condensed information is reported by Sporting Collectibles. reyuired: 1. Calculate the following profitability ratios for 2021: (Round your answers to 1 das
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