Refer to Matthias Medical's financial statements, presented in Exercise 12-8.

Required
Calculate the following profitability ratios for 2013.
a. Gross margin percentage
b. Return on assets
c. Return on common stockholders'equity

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Matthias Medical Comparative Balance Sheet As of December 31 2013 2012 Assets Current assets $ 382,600 1,065,370 717,000 381,300 2,546,270 8,678,000 $11,224,270 Cash Accounts receivable, net Inventory Other current assets $ 417,400 776,400 681,000 Total current assets Property, plant, & equipment, net 2,121,800 8,440,100 $10,561,900 Total assets Liabilities and Stockholders' Equity Current liabilities Long-term debt 3,162,800 3,702,600 6,865,400 58,900 104,600 4,195,370 4,358,870 $11,224,270 $ 2,846,000 3,892,600 6,738,600 58,900 103,800 3,660,600 3,823,300 $10,561,900 Total liabilities Preferred stock, $5 par value Common stock, $0.25 par value Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Matthias Medical Comparative Income Statement and Statement of Retained Earnings For the Year 2013 2012 $10,177,200 5,611,600 4,565,600 2,840,200 1,725,400 300,300 1,425,100 427,530 $ 997,570 $9,613,900 5,298,700 4,315,200 2,634,100 1,681,100 Sales revenue (all on account) Cost of goods sold Gross profit Operating expenses Net operating income Interest expense Net income before taxes Income taxes (30%) Net income Dividends paid 1,372,500 411,750 $960,750 29,450 413,000 442,450 518,300 3,142,300 $ 3,660,600 Preferred dividends Common dividends Total dividends paid 29,450 433,350 462,800 534,770 3,660,600 $ 4,195,370 Net income retained Retained earnings, beginning of year Retained earnings, end of year