Exercise 12-9A Calculate profitability ratios (L012-4) The following condensed information is reported by Sporting Collectibles....
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Exercise 12-9A Calculate profitability ratios (L012-4) The following condensed information is reported by Sporting Collectibles. 2021 2020 $13,912,000 8,987, 152 406,080 $9,200,000 6,700,000 328,000 Income Statement Information Sales revenue Cost of goods sold Net income Balance Sheet Information Current assets Long-term assets Total assets Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and stockholders' equity $ 1,680,000 2,280,000 $ 3,960,000 $ 1,280,000 1,420,000 880,000 380,000 $ 3,960,000 $1,580,000 1,980,000 $3,560,000 $ 980,000 1,420,000 880,000 280,000 $3,560,000 Required: 1. Calculate the following profitability ratios for 2021: (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 2. Determine the amount of dividends paid to shareholders in 2021. The amount of dividends paid
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