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	32,000
Loss on sale of land	9,000
Interest expense	20,000
Income tax expense	58,000
Total expenses		987,000
Net income		$ 139,000

VIRTUAL GAMING SYSTEMS
Balance Sheets
December 31
	2024	2023
Assets
Current assets:
Cash	$ 196,000	$ 154,000
Accounts receivable	91,000	70,000
Inventory	115,000	145,000
Prepaid rent	13,000	7,200
Long-term assets:
Investment in bonds	115,000	0
Land	220,000	250,000
Equipment	280,000	220,000
Less: Accumulated depreciation	(84,000)	(52,000)
Total assets	$ 946,000	$ 794,200
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$ 76,000	$ 91,000
Interest payable	8,000	4,000
Income tax payable	20,000	15,000
Long-term liabilities:
Notes payable	295,000	235,000
Stockholders' equity:
Common stock	310,000	310,000
Retained earnings	237,000	139,200
Total liabilities and stockholders equity	$ 946,000	$ 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.)

Profitability Ratios \begin{tabular}{|l|l|l|} \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}