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The following income statement and balance sheets for The Athletic Attic are provided. THE ATHLETIC ATTIC Income Statement For the Year Ended December 31, 2024

The following income statement and balance sheets for The Athletic Attic are provided.

THE ATHLETIC ATTIC
Income Statement
For the Year Ended December 31, 2024
Net sales $8,860,000
Cost of goods sold 5,430,000
Gross profit 3,430,000
Expenses:
Operating expenses $1,580,000
Depreciation expense 206,000
Interest expense 46,000
Income tax expense 356,000
Total expenses 2,188,000
Net income $1,242,000

THE ATHLETIC ATTIC
Balance Sheets
December 31
2024 2023
Assets
Current assets:
Cash $160,000 $210,000
Accounts receivable 770,000 790,000
Inventory 1,385,000 1,055,000
Supplies 106,000 81,000
Long-term assets:
Equipment 1,130,000 1,130,000
Less: Accumulated depreciation (412,000) (206,000)
Total assets $3,139,000 $3,060,000
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable $111,000 $87,000
Interest payable 0 4,600
Income tax payable 38,000 30,600
Long-term liabilities:
Notes payable 560,000 560,000
Stockholders' equity:
Common stock 660,000 660,000
Retained earnings 1,770,000 1,717,800
Total liabilities and stockholders equity $3,139,000 $3,060,000

Earnings per share for the year ended December 31, 2024, are $1.32. The closing stock price on December 31, 2024, is $22.02.

Required:

Calculate the following profitability ratios for 2024. (Use 365 days a year. Round your final answers to 1 decimal place.)

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