Tie IUIIUWITTY Cuiueliseu IIIUITSLUIT IS Tepunteu uy puty Collectibles. 2021 2020 $11,712,000 7,624,512 376,980 $8,700,000 6,200,000 278,000 Income Statement Information Sales revenue Cost of goods sold Net income Balance Sheet Information Current assets Long-term assets Total assets Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and stockholders' equity $ 1,630,000 2,230,000 $ 3,860,000 $ 1,230,000 1,470,000 830,000 330,000 $ 3,860,000 $1,530,000 1,930,000 $3,460,000 $ 930,000 1,470,000 830,000 230,000 $3,460,000 Required: 1. Calculate the following profitability ratios for 2021: (Round your answers to 1 decimal place.) Answer is complete but not entirely correct. a. Profitability Ratios Gross profit ratio 3.2 Return on assets 10.3 Profit margin 3.2 Asset turnover 0.1 X Return on equity 32.5 c. % % % times %