View Policies Current Attempt in Progress The following selected information is for Elkhardt Corporation: 2021 2020 2019 Total assets $357,000 $285,000 $267,000 Total shareholders' equity 136,000 97,500 48,500 Sales 503,000 394,000 297,000 Cost of goods sold 378,759 276,982 181,000 Net income 32,695 29,944 20,400 Elkhardt had no preferred shares. (a) Calculate the gross profit margin, profit margin, asset turnover, return on assets, and return on common shareholders' equity ratios for 2021 and 2020. (Round gross profit margin, profit margin, return on assets and return on equity to 1 decimal place e.g. 2.6. Round asset turnover to 2 decimal places e.g. 6.21.) Gross profit margin Profit margin Asset turnover Return on assets 2021 2020 % % % times de % Return on common shareholders' equity % eTextbook and Media Save for Later % times % de % Attempts: 0 of 3 used Submit Answer