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 Net sales Cost of goods sold $3,086,000 1,960,000 Gross profit 1,126,000 Expenses Operating expenses Depreciation expense Loss on sale of land Interest expense Income tax expense $868,000 32,000 9,000 20,000 58,000 Total expenses 987,000 Net income $ 139,000 VIRTUAL GAMING SYSTEMS Balance Sheets December 31 2018 2017 Assets Current assets Cash Accounts receivable Inventory Prepaid rent $196,000 91,000 115,000 13,000 $154,000 70,000 145,000 7,200 Long-term assets Investment in bonds Land Equipment Less: Accumulated depreciation 115,000 220,000 280,000 (84,000) 250,000 220,000 (52,000) Total assets $946,000 $794,200 Liabilities and Stockholders' Equity Current liabilities S 76,000 8,000 20,000 $ 91,000 4,000 15,000 Accounts payable Interest payable Income tax payable Long-term liabilities Notes payable Stockholders' equity: Common stock 295,000 235,000 310,000 237,000 310,000 139,200 Retained earnings Total liabilities and stockholders' equity $946,000 $794,200 Earnings per share for the year ended December 31, 2018, are $1.40. The closing stock price on December 31, 2018, is $28.30 Required Calculate the following profitability ratios for 2018. (Round your answers to 1 decimal place.) Profitability Ratios 1. Gross profit ratic 2.Return on assets 3. Profit margin 4. Asset turnover 5. Return on equity 6. Price-earnings ratio times