View Policies Show Attempt History Current Attempt in Progress The following selected information is for Lawn Corporation: Total assets Total shareholders' equity Sales Cost of goods sold Net income 2021 $359.000 132,500 501,000 365,229 32,565 2020 $285,000 101.500 393,000 291,999 30,654 2019 $275,000 53,000 288.000 188,000 20,400 Lawn had no preferred shares. (a) Assignment #10 - Chapter 14 Question 9 of 12 1.5/5 Your answer is partially correct. Calculate the gross profit margin, profit margin, asset turnover, return on assets, and return on common shareholders' equity ratios for 2021 and 2020. (Round gross profit margin, profit margin, return on assets and return on equity to 1 decimal place eg. 2.6. Round asset turnover to 2 decimal places eg. 621.) 2021 2020 Gross profit margin 27.1 % 25.7 % Profit margin 8.5 36 78 Asset turnover times 1.39 times Return on assets % 10.8 % Return on common shareholders' equity % e Textbook and Media Save for Later Attempts: unlimited Submit Answer (b) The parts of this question must be completed in order this part will be available when you complete the part above MacRAL