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Exerclse 16-9 (Algo) Flnanclal Ratios for Assessing Profitabllity and Managing Debt [LO16-4, LO16-5] The financial statements for Costile Products, Incorporated, are given below. Account balances at the beginning of the year were: accounts receivable, $240,000; and inventory, $290,000. All sales were on account. Assets at the beginning of the year totaled $1,010,000, and the stockholders' equity totaled $725,000. Required: Compute the following: (For Requlrements 1 to 4 , enter your percentage answers rounded to 2 decImal places (L.e., 0.1234 should be entered as 12.34).) 1. Gross margin percentege. 2. Net profit margin percentage. 3. Return on total assets. 4. Return on equity. 5. Was financial leverage positive or negative for the year