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The following income statement and balance sheets for Virtual Gaming Systems are provided. VIRTUAL GAMING SYSTEMS Income Statement For the Year Ended December 3 1

The following income statement and balance sheets for Virtual Gaming Systems are provided.
VIRTUAL GAMING SYSTEMS
Income Statement
For the Year Ended December 31,2024
Net sales $3,086,000
Cost of goods sold 1,960,000
Gross profit 1,126,000
Expenses:
Operating expenses $868,000
Depreciation expense 27,000
Loss on sale of land 9,000
Interest expense 20,000
Income tax expense 58,000
Total expenses 982,000
Net income $144,000
VIRTUAL GAMING SYSTEMS
Balance Sheets
December 31
20242023
Assets
Current assets:
Cash $196,000 $154,000
Accounts receivable 91,00070,000
Inventory 115,000145,000
Prepaid rent 13,0007,200
Long-term assets:
Investment in bonds 115,0000
Land 220,000250,000
Equipment 280,000220,000
Less: Accumulated depreciation (79,000)(52,000)
Total assets 951,000 $794,200
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable $76,000 $127,200
Interest payable 8,0004,000
Income tax payable 20,00015,000
Long-term liabilities:
Notes payable 295,000235,000
Stockholders' equity:
Common stock 310,000310,000
Retained earnings 242,000103,000
Total liabilities and stockholders equity $951,000 $794,200
Earnings per share for the year ended December 31,2024, are $1.40. The closing stock price on December 31,2024, is $28.30.
Required:
Calculate the following profitability ratios for 2024.(Round your answers to 1 decimal place.)Earnings per share for the year ended December 31,2024, are $1.40. The closing stock price on December 31,2024, is $28.30.
Required:
Calculate the following profitability ratios for 2024.(Round your answers to 1 decimal place.)
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