The following is information from the latest financial statements of Lost at Sea Corp.

$($$ in thousands$)$

Common Shares account balance....................................... $$32,000$

Average issue price of common shares.............................. $$100$

Average total liabilities......................................................... $$38,000$

Average total shareholders$$ equity...................................... $$36,000$

Cash dividends paid............................................................. $$400$

Gross profit........................................................................... $$12,000$

Payout ratio.......................................................................... $20\%$

Preferred dividends paid...................................................... $$80$

Price$-$earnings ratio.............................................................. $18$

Profit margin......................................................................... $8\%$

Instructions

Using the above information, calculate the following:

$($a$)$ Net income

$($b$)$ Return on common shareholders' equity

$($c$)$ Asset turnover

$($d$)$ Return on assets

$($e$)$ Gross profit margin

$($f$)$ Basic earnings per share

$($g$)$ Market price per share

Clearly label each response to receive marks.