The following income statement and balance sheets for Virtual Gaming Systems are provided. VIRTUAL GAMING SYSTEMS Income Statement For the year ended December 31, 2018 $2,991,000 1,941,000 Net sales Cost of goods sold 1,050,000 Gross profit Expenses: $849,000 27,000 7,100 10,500 39,000 Operating expenses Depreciation expense Loss on sale of land Interest expense Income tax expense 932.600 Total expenses $117,400 Net income VIRTUAL GAMING SYSTEMS Balance Sheets December 31 201 2018 Assets Current assets: $177,000 $135,000 51,000 126,000 4,920 Cash Accounts receivable Inventory Prepaid rent 72,000 96,000 11,100 Long-term assets: Investment in bonds Land Equipment Less: Accumulated depreciation 96,000 201,000 261,000 (60,000) 231,000 201,000 (33,000) Total assets $854,100 $715,920 Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable $ 57,000 100.220 2,100 13,100 4,200 10,500 Long-term liabilities: Notes payable Common stock Retained earnings 276,000 216,000 Stockholders equity: 291,000 215,400 291,000 93,500 Total liabilities and stockholders' equity $854,100 $715,920 Eamings per share for the year ended December 31, 2018, are $1.40. The closing stock price on December 31, 2018, is $26.40. Required: Calculate the tolwing proftablity ratios for 2018. Round your answers to 1 decimal place.) 1Gross profit ratio 2 Retum on assets 3. Profit margin 4 Asset turnover S. Retun on equity 6. Price-earnings ratio t 64.8 % times