Exercise 14-8

Selected comparative statement data for Queen Products Company are presented below. All balance sheet data are as of December 31.

2016 2017

Net sales $755,000 $715,000

Cost of goods sold $475,000 $435,000

Interest expense $6,000 $4,000

Net income $45,000 $37,000

Accounts receivable $115,000 $100,000

Inventory $80,000 $70,000

Total assets $575,000 $495,000

Total common stockholders equity $425,000 $320,000

Compute the following ratios for 2017. (Round answers to 1 decimal place, e.g. 1.6, or 1.6% .)

Profit margin ? %

Asset turnover ? times

Return on assets ? %

Return on common stockholders equity ? %