The following income statement and balance sheets for Virtual Gaming Systems are provided. Earnings per share for the year ended December 31, 2024, are $1.20. The closing stock price on December 31, 2024, is $27.50. Required: Calculate the following profitability ratios for 2024 . (Round your answers to 1 decimal place.) \begin{tabular}{|c|c|} \hline \multicolumn{2}{|c|}{ Profitability Ratios } \\ \hline 1.Gross profit ratio & % \\ \hline 2. Return on assets & % \\ \hline 3. Profit margin & % \\ \hline 4. Asset turnover & times \\ \hline 5. Return on equity & % \\ \hline 6 .Price-earnings ratio & \\ \hline \end{tabular} The following income statement and balance sheets for Virtual Gaming Systems are provided. Earnings per share for the year ended December 31, 2024, are $1.20. The closing stock price on December 31, 2024, is $27.50. Required: Calculate the following profitability ratios for 2024 . (Round your answers to 1 decimal place.) \begin{tabular}{|c|c|} \hline \multicolumn{2}{|c|}{ Profitability Ratios } \\ \hline 1.Gross profit ratio & % \\ \hline 2. Return on assets & % \\ \hline 3. Profit margin & % \\ \hline 4. Asset turnover & times \\ \hline 5. Return on equity & % \\ \hline 6 .Price-earnings ratio & \\ \hline \end{tabular}