The following income statement and balance sheets for Worlds of Fun are provided: 14 Worlds of Fun Income Statement For the year-ended December 31, 2021 $2,497,300 Sales revenue Cost of goods sold Gross profit 1530,000 967,300 Expenses Operating expenses Depreciation expense Loss on sale of land Interest expense Income tax expense 42,000 61,000 4,300 21,000 59,000 487, 300 $ 480,000 Total expenses Net income Worlds of Fun Balance Sheet December 31 2021 2020 Assetn Current assetI Cash Accounts receivable Inventory Prepaid rent $ 126,000 $105,000 99,000 79,000 180,000 160,000 14,000 14,000 Long-term assets Land Equipment Accumulated depreciation 350,000 290,000 410,000 220,000 (78,000)(41.000 1,101,000 827,000 Total assets Liabilities and Stockholders' Equity 1 79,000 180,000 160,000 14,000 14,000 Accounts receivable Inventory Prepaid rent 99,000 Long-tern assets: Land Equipment Accumulated depreciation 350,000 290,000 10,000 220,000 (78,000) (41,000 $1,101,000 $827,000 Total assets Liabilities and Stockholders' Equity Current 1iabilities Accounts payable Interest payable Income tax payable $57,000 80,000 7,600 15,800 12,200 8, 600 Long-term liabilities Notes payable 450,000 350,000 Stockholders' equity Common stock 300,000 300,000 269,600 77,200 1,101,000 $827,000 Retained earnings rotal liabilities and equity $ Earnings per share for the year ended December 31, 2021, is $1.60. The closing stock price on December 31, 2021, is $35.40 Calculate the following profitability ratios for 2021: (Do not round intermediate calculations. Round your answers to 1 decimal place.) Profitability Ratios Gross profit ratico 2. Retum on assets 3 Proft margin 4. Asset turnover 5. Retum on equity 6 Price-earnings ratio tmes times