The following condensed information is reported by Sporting Collectibles.

Required:

1. Calculate the following profitability ratios for 2021:

a. Gross profit ratio.

b. Return on assets.

c. Profit margin.

d. Asset turnover.

e. Return on equity.

2. Determine the amount of dividends paid to shareholders in 2021.

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2021 2020 Income Statement Information Sales revenue $14,820,000 $9,400,000 Cost of goods sold 9,544,080 6,900,000 Net income 418,000 348,000 Balance Sheet Information Current assets $ 1,700,000 $1,600,000 Long-term assets 2,300,000 2,000,000 Total assets $ 4,000,000 $3,600,000 Current liabilities $ 1,300,000 $1,000,000 Long-term liabilities 1,400,000 1,400,000 Common stock 900,000 900,000 Retained earnings 400,000 з00,000 Total liabilities and stockholders' equity $ 4,000,000 $3,600,000