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		$3,071,000
Cost of goods sold		1,957,000
Gross profit		1,114,000
Expenses:
Operating expenses	$865,000
Depreciation expense	27,000
Loss on sale of land	8,700
Interest expense	18,500
Income tax expense	55,000
Total expenses		974,200
Net income		$ 139,800

VIRTUAL GAMING SYSTEMS Balance Sheets December 31
	2018	2017
Assets
Current assets:
Cash	$193,000	$151,000
Accounts receivable	88,000	67,000
Inventory	112,000	142,000
Prepaid rent	12,700	6,840
Long-term assets:
Investment in bonds	112,000	0
Land	217,000	247,000
Equipment	277,000	217,000
Less: Accumulated depreciation	(76,000)	(49,000)
Total assets	$935,700	$781,840
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$ 73,000	$ 122,940
Interest payable	7,400	3,700
Income tax payable	18,500	14,700
Long-term liabilities:
Notes payable	292,000	232,000
Stockholders' equity:
Common stock	307,000	307,000
Retained earnings	237,800	101,500
Total liabilities and stockholders equity	$935,700	$781,840

Earnings per share for the year ended December 31, 2018, are $1.40. The closing stock price on December 31, 2018, is $28.00.

Required:

Calculate the following profitability ratios for 2018. (Round your answers to 1 decimal place.)

PROFITABILITY RATIOS

1.	Gross profit ratio		%
2.	Return on assets		%
3.	Profit margin		%
4.	Asset turnover		TIMES
5.	Return on equity		%
6.	Price-earnings ratio