Reference no: EM132613646

The following condensed information is reported by Sporting Collectibles.

                                                            2021                    2020

Income Statement Information  

Sales revenue                          $13,464,000           $9,100,000

Cost of goods sold                      8,711,208              6,600,000

Net income                                 400,180                318,000

Balance Sheet Information

Current assets                           $1,670,000              $1,570,000

Long-term assets                          2,270,000                1,970,000

Total assets                                 $3,940,000                 $3,540,000

Current liabilities                              $1,270,000                 $970,000

Long-term liabilities                          1,430,000                       1,430,000

Common stock                                  870,000                            870,000

Retained earnings                               370,000                          270,000

Total liabilities and stockholders' equity  $3,940,000                 $3,540,000

Question 1: Calculate the following profitability ratios for 2021

Gross Profit Ratio, Return on Assets, Profit Margin, Asset turnover, Return on Equity

Question 2: Determine the amount of dividends paid to shareholders in 2021.