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 Profitability Ratios Gross profit ratio Return on assets Profit margin Asset turnover Return on equity Required: 1. Calculate the following profitability ratios for 2021: (Round your answers to 1 decimal place.) 1:% % % 2021 times % 2020 $7,224,000 $7,600,000 4,782,288 5,100,000 316,480 168,000 $1,520,000 $1,420,000 2,120,000 1,820,000 $3,640,000 $3,240,000 $1,120,000 $ 820,000 1,580,000 1,580,000 720,000 120,000 $3,240,000 720,000 220,000 $3,640,000

The following condensed information is reported by Sporting Collectibles. Required: 1. Calculate the following profitability ratios for 2021: (Round your answers to 1 decimal place.)