Selected comparative statement data for Slaymaker Products are presented below. All balance sheet data are as at December 31.

Instructions

Calculate the following ratios for 2021.

a. Gross profit margin

b. Profit margin

c. Asset turnover

d. Return on assets

e. Return on shareholders? equity

2021 2020 Net sales $750,000 $720,000 Cost of goods sold 480,000 440,000 Interest expense 7,000 5,000 Profit 60,000 42,000 Accounts receivable 120,000 100,000 Inventory Total assets 85,000 75,000 600,000 500,000 Total shareholders' equity 450,000 310,000