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 $2,550,000 Cost of goods sold 1,580,000 Gross profit 970,000 Expenses: Operating expenses 347,000 Depreciation expense 61,000 Loss on sale of land 5,000 Interest expense 21,000 Income tax expense 56,000 Total expenses 490,000 Net income $ 480,000 2020 $110,000 73,080 160,000 11,000 Worlds of Fun Balance Sheet December 31 2021 Assets Current assets: Cash 124,000 Accounts receivable 96,000 Inventory 180,000 Prepaid rent 11,000 Long-term assets: Land 340,000 Equipment 420, e Accumulated depreciation 72,000) Total assets $1,899,000 Liabilities and Stockholders: Equity Current liabilities: Accounts payable 58,000 Interest payable 8,900 Income tax payable 15,109 Long-term 11 abilities: Notes payable 410,000 Stockholders equity Common stock 300,000 Retained earnings 307.000 280,000 270,000 (42,000) $662,000 $77,080 7,90 1 2, 10 310,000 300,000 155.000 410,000 310,000 Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and equity 380,000 307,000 $1,099,800 388,888 155,880 $862,888 Earnings per share for the year ended December 31, 2021, is $1.60. The closing stock price on December 31, 2021, is $31.20. 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. Return on assets 3. Profit margin 4 Asset turnover 5. Return on equity 6. Price-earnings ratio