The following income statement and balance sheets for The Athletic Attic are provided. THE ATHLETIC ATTIC Income Statement For the year ended December 31, 2021 Net sales $ $8,890,000 Cost of goods sold 5,445,000 Gross profit 3,445,000 Expenses: Operating expenses $1,595,000 Depreciation expense 209,000 Interest expense 49,000 Income tax expense 359,000 Total expenses 2,212,000 income $1,233,000 THE ATHLETIC ATTIC Balance Sheets December 31 2021 2020 $ 163,000 785,000 1,400,000 109,000 $ 213,000 895,000 1,070,980 84,000 1,145,000 (418,000) $3,184,000 1,145,000 (299,000 $3,108,000 Assets Current assets: Cash Accounts receivable Inventory Supplies Long-term assets: Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders equity: Common stock Retained earnings Total liabilities and stockholders' equity $ 114,000 $ 90,000 4,900 30,900 39,500 590,000 590,000 690,000 1,750,500 $3,184,000 690,000 1,702,200 $3,108,000 Earnings per share for the year ended December 31, 2021, are $1.35. The closing stock price on December 31, 2021, is $22.32 Required: Calculate the following profitability ratios for 2021. (Round your answers to 1 decimal place.) % 1 2 3 Profitability Ratios Gross profit ratio Return on assets Profit margin Asset turnover Return on equity Price earnings ratio % % times % 4 5 6 times