Question: Please answer this question and explain how you solved it. Thank you! Ratios Analyzing Firm Profitability The following information is available for Crest Company: 2015

Please answer this question and explain how you solved it. Thank you!
 Please answer this question and explain how you solved it. Thank
you! Ratios Analyzing Firm Profitability The following information is available for Crest

Ratios Analyzing Firm Profitability The following information is available for Crest Company: 2015 Annual Data Sales revenue $6,600,000 $6,000,000 Cost of goods sold 4,006,400 3,800,000 Net income 2016 310,000 264,000 Year-End Data Dec. 31, 2016 Dec. 31, 2015 $2,850,000 $2,500,000 Total assets Common stockholders equity 1,900,000 1,800,000 Calculate the following ratios for 2016: Round answers to one decimal place, unless otherwise noted. a. Gross profit percentage 0 % b. Return on sales 0% c. Asset turnover (Round answer to two decimal places.) 0 d. Return on assets

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