Using the income statement below, calculate the following profitability ratios for Western Bookkeeping and Tax Service. Assume that stockholder's equity equals $598,000 and total assets equal $920,000.

1. Profit margin ratio
2. Return on equity ratio
3. Asset turnover ratio

Write the profit margin and return on equity ratios as a percent, rounded to the nearest percent. Write the asset turnover ratio as a decimal, rounded to two decimal places.

Western Bookkeeping and Tax Service Income Statement for the Year Ended, December 31, 21
Revenues:
Net Sales		$260,000
Expenses:
Salaries Expense	$106,600
Rent Expense	46,800
Supplies Expense	28,600
Utilities Expense	23,400
Advertising Expense	23,400
Miscellaneous Expense	3,900
Total Expenses		232,700
Net Income		27,300

1. Profit margin ratio:	%
2. Return on equity ratio:	%
3. Asset turnover ratio: