Varsity, Inc.'s comparative income statement follows. The 2023 data are given as needed. (Click the icon to view the data.) Read the requirements Requirement 1. Calculate the profit margin ratio for 2025 and 2024. Begin by selecting the formula to calculate the profit margin ratio. Profit margin ratio Requirements 1. Calculate the profit margin ratio for 2025 and 2024. 2. Calculate the rate of return on total assets for 2025 and 2024. 3. Calculate the asset turnover ratio for 2025 and 2024. 4. Calculate the rate of return on common stockholders' equity for 2025 and 2024. 5. Calculate the earnings per share for 2025 and 2024. 6. Calculate the 2025 dividend payout on common stock. Assume dividends per share for common stock are equal to $0.74 per share. 7. Did the company's operating performance improve or deteriorate during 2025? Print Done Data Table Comparative Income Statement Years Ended December 31, 2025 and 2024 2025 2024 2023 Net Sales Revenue $ 187,000 $ 153,000 Cost of Goods Sold 98,500 83,000 Selling and Administrative Expenses 46,500 43,500 Interest Expense 9,000 10,500 10,000 Income Tax Expense 9,500 $ 23,000 $ 6,500 Net Income Additional data: Total Assets $ 200,000 $ 192,000 $ 171,000 Common Stockholders' Equity 91,000 88,500 81,000 Preferred Dividends 2,000 2,000 0 Common Shares Outstanding During the Year 25,000 25,000 15,000 Print Done