Profitability measures Shown below is a recent income statement for Heidi's Hairdressing. Heidi's Hairdressing Income statement For the year ended January 31, 2020 Net sales Less: Cost of goods sold Gross profit Less: Operating expenses Operating income Less: Non-operating expenses: Interest expense Income taxes expense Net Income $7,500,000 4.100.000 $3,400,000 1975,000 $ 1,425,000 $175,000 280.000 455,000 $ 970.000 Assume that comparative balance sheets for Heidi's Hairdressing indicate average total assets for the year of $2,500,000, and average total equity of $2,050,000. Define each term and Compute the following (Show all calculations): 5.1. Gross Profit Rate = % 5.2. Return on Assets = % 5.3. Return on Equity =