Use the following data to answer questions below.

INCOME STATEMENT: TONY'S PIZZA EATERY 2016
	2016
REVENUES	$ 275,789
COST OF GOODS SOLD	$ 103,115
GROSS PROFIT	$ 172,674
DEPRECIATION	$ 31,100
SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES	$ 77,444
OPERATING INCOME (EBIT)	$ 64,130
INTEREST EXPENSE	$ 6,000
TAXABLE INCOME (EBT)	$ 58,130
TAXES (SEE TAX TABLE)	$ 8,720
NET INCOME	$ 49,411

BALANCE SHEET: TONY'S PIZZA EATERY END OF 2016
	2016
CURRENT ASSETS
CASH	$ 8,247
ACCOUNTS RECEIVABLE	$ 1,236
INVENTORIES	$ 6,432
TOTAL CURRENT ASSETS	$ 15,915
FIXED ASSETS	$ 155,500
ACCUMULATED DEPRECIATION	$ 31,100
NET FIXED ASSETS	$ 124,400
TOTAL ASSETS	$ 140,315
CURRENT LIABILITIES
ACCOUNTS PAYABLE	$ 8,563
SHORT-TERM DEBT	$ 2,341
TOTAL CURRENT LIABILITIES	$ 10,904
LONG-TERM DEBT	$ 75,000
TOTAL LIABILITIES	$ 85,904
EQUITY	$ 5,000
RETAINED EARNINGS	$ 49,411
TOTAL OWNERS' EQUITY	$ 54,411
TOTAL LIABILITIES + EQUITY	$ 140,315

1. What is Tony's Pizza Eatery's 2016 gross profit margin?

A. 62.6%

B. 23.3%

C. 21.1%

D. 37.4%

2. What was Tony's Pizza Eatery's net profit margin for 2016?

A. 62.6%

B. 23.3%

C. 21.1%

D. 17.9%

3. What was Tony's Pizza Eatery's 2016 return on assets?

A. 123.1%

B. 45.7%

C. 35.2%

D. 310.5%

4. What is the 2016 return on equity for Tony's Pizza Eatery?

A. 988.2%

B. 90.8%

C. 189.5%

D. 35.2%