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The following selected information is for Blossom Corporation: 2021 2020 2019 Total assets $349,500 $275,000 $273,967 Total shareholders' equity 133,000 100,000 49,500 Net sales
The following selected information is for Blossom Corporation: 2021 2020 2019 Total assets $349,500 $275,000 $273,967 Total shareholders' equity 133,000 100,000 49,500 Net sales 500,000 399,500 299,500 Cost of goods sold 375,000 290,000 180,000 Profit 33,000 29,500 19,500 Calculate the gross profit margin, profit margin, asset turnover, return on assets, and return on equity ratios for 2021 and 2020. (Round answers to 1 decimal place, e.g. 52.7.) Gross profit margin Profit margin Asset turnover 2021 do % % times Return on assets % 2020 do % % times % Return on equity % % Indicate whether each of the profitability ratios calculated in part (a) is better or worse in 2021. Gross profit margin Profit margin Asset turnover Return on assets Return on equity
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