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The following income statement and balance sheets for Worlds of Fun are provided: -50:27 Worlds of Fun Income Statement For the year-ended December 31, 2021 Sales revenue $2,499,600 Cost of goods sold 1,600,000 Gross profit 899,600 Expenses: Operating expenses 341,000 Depreciation expense 62,000 Loss on sale of land 4,600 Interest expense 21,000 Income tax expense 55,000 Total expenses 483, 600 Net income 416,000 2020 $ 106,000 79,000 170,000 16,000 Worlds of Fun Balance Sheet December 31 2021 Assets Current assets: Cash 123,000 Accounts receivable 91,000 Inventory 190,000 Prepaid rent 16,000 Long-term assets: Land 330,000 Equipment 380,000 Accumulated depreciation (80,000) Total assets $1,050,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 50,000 Interest payable 8,800 Income tax payable 15,200 270,000 250,000 (43,000) $848,000 $ 77,000 7,800 12,400 2020 $106,000 79,000 170,000 16,000 Worlds of Fun Balance Sheet December 31 2021 Assets Current assets Cash $ 123,000 Accounts receivable 91,000 Inventory 190,000 Prepaid rent 16,000 Long-term assets: Land 330,000 Equipment 380,000 Accumulated depreciation (80,000) Total assets $1,050,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 50,000 Interest payable 8,800 Income tax payable 15,200 Long-term liabilities: Notes payable 400,000 Stockholders' equity: Common stock 260,000 Retained earnings 316,000 Total liabilities and equity $1,050,000 270,000 250,000 (43,000) $848,000 $ 77,000 7,800 12,400 300,000 260,000 190,800 $848,000 Earnings per shore for the year ended December 31, 2021, is $1.60. The closing stock price on December 31, 2021, is $38.00 Calculate the following profitability ratios for 2021: (Do not round intermediate calculations. Round your answers to 1 decimal place.) Profitability Ratios 1 Gross profit ratio 2 Return on assets 3 Profit margin 4 Acutter % % % tima 270,000 250,000 (43,000) $848,000 Land 330,000 Equipment 380,000 Accumulated depreciation (80,000) Total assets 51,050,000 Liabilities and stockholders' Equity Current liabilities Accounts payable $ 50,000 Interest payable 8,800 Income tax payable 15,200 Long-term liabilities: Notes payable 400,000 Stockholders' equity: Common stock 260,000 Retained earnings 316,000 Total liabilities and equity $1,050,000 $ 77,000 7,800 12,400 300,000 260,000 190,800 $848,000 Earnings per share for the year ended December 31, 2021, is $160. The closing stock price on December 31, 2021, is $38.00. Calculate the following profitability ratios for 2021 (Do not round intermediate calculations. Round your answers to 1 decimal place.) % % Profitability Ratios 1. Gross profit ratio 2. Return on assets 3. Profit margin 4 Asset tumover 5 Return on equity 6. Price-earnings ratio % times % times

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