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 $2,394,600 Cost of goods sold 1,510,000 Gross profit 884,600 Expenses: Operating expenses 346,000 Depreciation expense 65,000 Loss on sale of land 4,600 Interest expense 24,000 Income tax expense 55,000 Total expenses 494,600 Net income $ 390,000 Worlds of Fun Balance Sheet December 31 2021 2020 Assets Current assets: Cash $ 127,000 $106,000 Accounts receivable 91,000 79,000 Inventory 140,000 120,000 Prepaid rent 15,000 15,000 Long-term assets: Land 310,000 250,000 Equipment 420,000 270,000 Accumulated depreciation (74,000) (44,000) Total assets $1,029,000 $796,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable 55,000 $ 74,000 Interest payable 9,000 8,000 Income tax payable 15,900 12,900 Long-term liabilities: Notes payable 450,000 350,000 Stockholders' equity: Common stock 260,000 260,000 Retained earnings 239, 100 91, 100 Total liabilities and equity $1,029,000 $796,800 Earnings per share for the year ended December 31, 2021, is $1.50. The closing stock price on December 31, 2021, is $37.50. Calculate the following profitability ratios for 2021 (Do not round intermediate calculations. Round your answers to 1 decimal place.) % Profitability Ratios 1 Gross profit ratio 2 Retum on assets 3. Profit margin 4 Asset turnover 5 Return on equity 6. Price-earnings ratio % times % times