Use the following information about Sanibel Corporation to calculate the following ratios for 2011 (assume an effective tax rate of 35%):

a.	Return on Assets
b.	Profit margin for ROA
c.	Assets Turnover
d.	Return on Common Shareholders Equity
e.	Profit Margin for ROCE
f.	Accounts Receivable Turnover
g.	Inventory Turnover
h.	Fixed Asset Turnover

Sanibel Corporation
Balance Sheet
As of December 31,	2011	2010
Assets:
Cash and cash equivalents	$ 712,300	$ 425,000
Accounts Receivable	408,000	106,250
Inventory	510,000	612,000
Current Assets	1,630,300	1,143,250
Equipment	714,000	654,500
Less: Accumulated depreciation	(238,000)	(119,000)
Land	425,000	170,000
Total assets	$2,531,300	$1,848,750
Liabilities
Accounts Payable	$ 297,500	$ 382,500
Accrued Salaries Payable	93,500	136,000
Rent Expense Payable	37,400	17,000
Income Tax Payable	117,300	68,000
Current Liabilities	545,700	603,500
Long-term note payable	850,000	510,000
Total Liabilities	1,395,700	1,113,500
Stockholders Equity:
Common stock	714,000	510,000
Retained earnings	421,600	225,250
Total liabilities and stockholders equity	$2,531,300	$1,848,750

Sanibel Corporation
Income Statement
For the year ended December 31, 2011
Revenues	$2,499,000
Cost of goods sold	(1,428,000)
Gross Profit		1,071,000
Operating Expenses
Depreciation expense	(112,000)
Salary expense	(233,600)
Insurance Expense	(40,000)
Rent Expense	(160,000)
Interest Expense	(67,200)
Total Operating Expenses		(612,800)
Income from Operations		458,200
Income Tax Expense		(160,370)
Net income		$ 297,830