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 $2,455,000 Cost of goods sold 1,570,000 Gross profit 885,000 Expenses: Operating expenses 347,000 Depreciation expense 69,000 Loss on sale of land 5,000 Interest expense 23,000 Income tax expense 51,000 Total expenses 495,000 Net income $ 390,000 2020 $ 106,000 76,000 120,000 20,000 Worlds of Fun Balance Sheet December 31 2021 Assets Current assets: Cash $ 121,000 Accounts receivable 98,000 Inventory 140,000 Prepaid rent 20,000 Long-term assets: Land 340,000 Equipment 360,000 Accumulated depreciation (76,000) Total assets $1,003,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 51,000 Interest payable 8,600 Income tax payable 15,800 Long-term liabilities: payable 440,000 Stockholders' equity: Common stock 260,000 Retained earnings 227,600 Total liabilities and equity $1,003,000 280,000 210,000 (41,000) $771,000 $ 73,000 7,600 12,200 Notes 340,000 260,000 78, 200 $771,000 Earnings per share for the year ended December 31, 2021, is $1.50. The closing stock price on December 31, 2021, is $36.40. 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 times 5. % Return on equity Price-earnings ratio 6. times