Question: Please show the work for the 2 not filled out, thank you! The following income statement and balance sheets for The Athletic Attic are provided.

Please show the work for the 2 not filled out, thank you!  Please show the work for the 2 not filled out, thank
you! The following income statement and balance sheets for The Athletic Attic

The following income statement and balance sheets for The Athletic Attic are provided. THE ATHLETIC ATTIC Income Statement For the year ended December 31, 2021 Net sales $8,820,000 Cost of goods sold 5,410,000 Gross profit 3,410,000 Expenses: Operating expenses $1,560,000 Depreciation expense 202,000 Interest expense 42,000 Income tax expense 352,000 Total expenses 2,156,000 Net income $1,254,000 THE ATHLETIC ATTIC Balance Sheets December 31 2021 2020 $ 156,000 750,000 1,365.000 102,000 $206,000 770.000 1,035,000 77.000 1,110,000 (484,088) $3,079,000 1,110,000 (202.000) $2,996,000 Assets Current assets: Cash Accounts receivable Inventory Supplies Long-term assets: Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders equity: Common stock Retained earnings Total liabilities and stockholders' equity $ 197,000 @ 36.ece $ 83,000 4,200 30,200 520,000 520,000 620,000 1,796.ee $3,079,000 620,000 1,238 600 $2,996,000 Earnings per share for the year ended December 31, 2021, are $1.28. The closing stock price on December 31, 2021, is $21.62 Required: Calculate the following profitability ratios for 2021. (Round your answers to 1 decimal place) Answer is not complete. 1 2 3 4 Profitability Ratios Gross profit ratio Return on assets Profit margin Asset urnover Rotum equity Price camins ratio 387 % % 142% 29 times 9 16.9 times 6

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!