Martin Martini Winery’s comparative income statement follows The 2022 data are given as needed.

Requirements
1. Calculate the profit margin ratio for 2024 and 2023.
2. Calculate the rate of return on total assets for 2024 and 2023.
3. Calculate the asset turnover ratio for 2024 and 2023.
4. Calculate the rate of return on common stockholders’ equity for 2024 and 2023.
5. Calculate the earnings per share for 2024 and 2023.
6. Calculate the 2024 dividend payout on common stock. Assume dividends per share for common stock are equal to $1.81 per share.
7. Did the company’s operating performance improve or deteriorate during 2024?

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MARTIN MARTINI WINERY Comparative Income Statement Years Ended December 31, 2024 and 2023 Net Sales Revenue Cost of Goods Sold Gross Profit Selling Expenses Income from Operations Interest Expenses Income before Income Taxes Income Tax Expense Net Income Additional data: Total Assets Common Stockholders' Equity Preferred Dividends Common Shares Outstanding During the Year 2024 $ 49,800 21,200 3,400 3,800 2024 $ 54,800 25,000 29,800 12,000 17,800 1,800 16,000 5,600 10,400 2023 $ 47,800 20,800 3,000 3,400 2023 45,400 23,200 22,200 9,800 12,400 1,200 11,200 3,600 7,600 2022 $ 45,400 20,400 2,600 2,200