Worlds of Fun Income Statement For the year-ended December 31, 2021 Sales revenue Cost of goods sold Gross profit Expenses: Operating expenses Depreciation expense Loss on sale of land Interest expense Income tax expense Total expenses Net income $2,418,000 1,570,000 848,000 349,000 69,000 4,000 22,000 59,000 503,000 $ 345,000 Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Land Worlds of Fun Balance Sheet December 31 2021 2020 Equipment Accumulated depreciation. Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and equity $124,000 $108,000 99,000 72,000 150,000 130,000 13,000 13,000 270,000 210,000 380,000 220,000 (71,000) (45,000) $965,000 $708,000 $ 57,000 8,700 15,700 $ 74,000 7,700 12,500 440,000 340,000 230,000 230,000 213,600 43,800 $965,000 $708,000 Earnings per share for the year ended December 31, 2021, is $1.50. The closing stock price on December 31, 2021, is $30.60. Calculate the following profitability ratios for 2021: (Do not round Intermediate calculations. Round your answers to 1 decimal place.) Profitability Ratios 1. Gross profit ratio 2. Return on assets 3. Profit margin 4. Asset turnover 5. Return on equity 6. Price-earnings ratio 96 % % times % times