Use the Cartwright’s Data Set to compute these profitability measures for 2023:

a. Gross profit percentage

b. Operating income percentage

c. Rate of return on net sales

d. Rate of return on total assets

e. Rate of return on common stockholders’ equity Are these rates of return strong or weak?

Data From Cartwright’s Data Set:-

Cartwright’s, a home-improvement store chain, reported these summarized figures:

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1 2 4 3 4 5 6 Sales revenues 7 Less: Cost of goods sold 8 Gross profit 9 Less: Operating expenses 10 Operating income 11 Less: Interest expense 12 Income before income taxes 13 Less: Income tax expense 14 Net income 15 Cartwright's Income Statement For the Year Ended December 31, 2023 B 2023 $ 34,988,900 21,766,030 $ 13,222,870 5,088,250 S 8,134,620 217,800 $ 7,916,820 1,925,750 $ 5,991,070