The following income statement and balance sheets for Worlds of Fun are provided: Worlds of Fun Income Statement For the year-ended December 31, 2021 Sales revenue $2,435,000 Cost of goods sold 1,560,000 Gross profit 875,000 Expenses: Operating expenses 348,000 Depreciation expense 65,000 Loss on sale of land 5,000 Interest expense 23,000 Income tax expense 56,000 Total expenses 497,000 Net income $ 378,000 2020 $108,000 78,000 150,000 12,000 Worlds of Fun Balance Sheet December 31 2021 Assets Current assets: Cash $125,000 Accounts receivable 97,000 Inventory 170,000 Prepaid rent 12,000 Long-term assets: Land 270,000 Equipment 400,000 Accumulated depreciation (79,000) Total assets $995,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 51,000 Interest payable 8,100 Income tax payable 15,600 Long-term liabilities: Notes payable 440,000 Stockholders' equity: Common stock 270,000 Retained earnings 210,300 Total llabilities and equity $995,000 210,000 250,000 (45,000) $763,000 $ 75,000 7,100 12,700 340,000 270,000 58,200 $763,000 Earnings per share for the year ended December 31, 2021, is $1.40. The closing stock price on December 31, 2021, is $38.80. Calculate the following profitability ratios for 2021: (Do not round Intermediate calculations. Round your answers to 1 decimal Lomon COOK Retained earnings Total liabilities and equity 41 V 210,300 $995,000 CIU, Vuu 58,200 $763,000 Earnings per share for the year ended December 31, 2021, is $1.40. The closing stock price on December 31, 2021, is $38.80. Calculate the following profitability ratios for 2021: (Do not round intermediate calculations. Round your answers to 1 decimal pla % Profitability Ratios 1. Gross profit ratio 2 Return on assets 3. Profit margin 4 Asset turnover 5. Return on equity 6. Price-earnings ratio % times % times