Here is the selected comparative statement data for the Clapton Guitar Company. All balance sheet data is as of December 31st.

A. What is the profit margin ratio for 2004? (5 pts)
B. Calculate the return on assets ratio for 2004. (5pts)

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2004 2003 820,000 400,000 Net sales Cost of goods sold Interest expense Net income Accounts receivable Invento Total assets Total stockholders' equity 900.000 480,000 7,000 61,000 120,000 190,000 800,000 450.000 5,000 48,000 00.000 180,000 500,000 310,000