Shown below is a recent income statement for EBDL:

EBDL

Income Statement

For the Year Ended January $31,$ Year $2$

Net sales $$7,500,000$

Less: Cost of goods sold $4100000$

Gross profit $$3,400,000$

Less: Operating expenses $1975000$

Operating income $$1,425,000$

Less: Non$-$operating expenses:

Interest expense $$175,000$

Income taxes expense $280000455000$

Net Income $ $970,000$

"Assume that comparative statements of financial position $($balance sheets$)$ for EBDL indicate average total assets for the year of $$2,500,000,$ and average total equity of $$2,050,000.$

Compute $($a$)$ Gross profit rate; $($b$)$ Net income as a percentage of net sales; $($c$)$ Return on assets; and Return on equity."