Wildhorse Medical manufactures hospital beds and other institutional furniture. The companys comparative balance sheet and income statement for 2019 and 2020 follow.

Wildhorse Medical Comparative Balance Sheet As of December 31 2020 2019 Assets Current assets Cash $381,000 $417,400 Accounts receivable, net 1,003,000 776,400 741,000 681,050 Inventory Other current assets 381,350 247,050 Total current assets 2,506,350 2,121,900 Property, plant, & equipment, net 8,750,650 8,439,930 Total assets $11,257,000 $10,561,830 Liabilities and Stockholders' Equity $3,197,000 $2,846,050 Current liabilities Long-term debt 3,702,600 3.892,600 Total liabilities 6,899,600 6,738,650 58,900 58,900 Preferred stock, $5 par value Common stock, $0.25 par value 104,700 103,800 4,193,800 3,660,480 Retained earnings Total stockholders' equity 4,357,400 3,823,180 Total liabilities and stockholders' equity $11,257,000 $10,561,830 Wildhorse Medical Comparative Income Statement and Statement of Retained Earnings For the Year 2020 2019 Sales revenue (all on account) $10,177,200 $9,613,900 Cost of goods sold 5,613,500 5,298,700 Gross profit 4,563,700 4,315,200 Operating expenses 2,840,250 2,634,100 1,723,450 1,681,100 Net operating income Interest expense Net income before taxes 300,350 308,700 1,423,100 1,372,400 Income taxes (30%) 426,930 411,720 Net income $996,170 $960,680 Dividends paid Preferred dividends Common dividends 29,450 29,450 433,400 413,100 Total dividends paid 462,850 442,550 533,320 518,130 Net income retained Retained earnings, beginning of year 3,660,480 3,142,350 Retained earnings, end of year $4,193,800 $3,660,480 Calculate the following profitability ratios for 2020. (Round answers to 1 decimal place, e.g. 50.1%.) % a. Gross margin percentage % b. Return on assets % C. Return on common stockholders' equity