value: 1.50 points Exercise 12-9 Calculate profitability ratios (L012-4) The following condensed information is reported by Sporting Collectibles. 2018 2017 Income Statement Information Sales revenue Cost of goods sold 14,820,000 9,400,000 6,900,000 348,000 9,544,080 18,000 Net income Balance Sheet Information Current assets Long-term assets S 1,700,000 $1,600,000 2,000,000 2,300,000 Total assets $ 4,000,000 $ 3,600,000 Current liabilities $ 1,300,000 1,400,000 900,000 400,000 1,000,000 1,400,000 900,000 300,000 Long-term liabilities Common stock Retained eanings Total liabilities and stockholders' equity $ 4,000,000 S 3,600,000 Required 1. Calculate the following profitability ratios for 2018: (Round your answers to 1 decimal place.) Profitability Ratios a. Gross profit ratio b. Return on assets c. Profit margin d. Asset turnover e. Return on equity times