Data for The Athletic Attic are provided in P124B. Earnings per share for the year ended December

Data for The Athletic Attic are provided in P12–4B. Earnings per share for the year ended December 31, 2015, are $1.36. The closing stock price on December 31, 2015, is $22.42.

In P12–4B, The following income statement and balance sheets for The Athletic Attic are provided.

Required:
Calculate the following profitability ratios for 2015:
1. Gross profit ratio.
2. Return on assets.
3. Profit margin.
4. Asset turnover.
5. Return on equity.
6. Price-earnings ratio.

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THE ATHLETIC ATTIC Income Statement For the year ended December 31, 2015 Net sales S8,900,000 5,450,000 3,450,000 Cost of goods sold Gross proft Expenses: Operating expenses Depreciation expense Interest expense Income tax expense $1,600,000 210,000 50,000 360,000 Total expenses 2,220,000 $1,230,000 Net income THE ATHLETIC ATTIC Balance Sheets December 31 2015 2014 Assets Current assets: Cash Accounts receivable Inventory Supplies S 164,000 790,000 1,405,000 110,000 S 214,000 810,000 1,075,000 85,000 Long-term assets: Equipment Less: Accumulated depreciation 1,150,000 (420,000) 3,199,000 1,150,000 (210,000) $3,124,000 Total assets Liabilities and Stockholders' Equi Current liabilities: S 115,000 40,000 600,000 Accounts payable Interest payable S 91,000 5,000 31,000 Income tax payable Long-tem liabilities: Notes payable Stockholders' equity: Common stock Retained earnings 600,000 700,000 1,744,000 3,199.000 700,000 1,697000 $3,124,000 Total liabilities and stockholders' equity