Calculate Ratios. The following income statement and balance sheets for Laser World are provided:
| LASER WORLD Income Statement For the year ended December 31, 2018 |
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| Sales revenue | $ 2,391,100 | |
| Cost of goods sold | 1,560,000 | |
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| Gross profit | 831,100 | |
| Expenses: | ||
| Operating expenses | 349,000 | |
| Depreciation expense | 69,000 | |
| Loss on sale of land | 4,100 | |
| Interest expense | 22,000 | |
| Income tax expense | 57,000 | |
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| Total expenses | 501,100 | |
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| Net income | $ 330,000 | |
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Order Paper Now| LASER WORLD Balance Sheet December 31 |
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| 2018 | 2017 | |||
| Assets | ||||
| Current assets: | ||||
| Cash | $ | 130,000 | $ | 107,000 |
| Accounts receivable | 93,000 | 73,000 | ||
| Inventory | 180,000 | 160,000 | ||
| Prepaid rent | 13,000 | 13,000 | ||
| Long-term assets: | ||||
| Land | 300,000 | 240,000 | ||
| Equipment | 420,000 | 240,000 | ||
| Accumulated depreciation | (73,000) | (41,000) | ||
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| Total assets | $ | 1,063,000 | $ | 792,000 |
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| Liabilities and Stockholders’ Equity | ||||
| Current liabilities: | ||||
| Accounts payable | $ | 54,000 | $ | 74,000 |
| Interest payable | 8,700 | 7,700 | ||
| Income tax payable | 15,100 | 12,400 | ||
| Long-term liabilities: | ||||
| Notes payable | 430,000 | 330,000 | ||
| Stockholders’ equity: | ||||
| Common stock | 220,000 | 220,000 | ||
| Retained earnings | 335,200 | 147,900 | ||
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| Total liabilities and equity | $ | 1,063,000 | $ | 792,000 |
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Earnings per share for the year ended December 31, 2018, is $1.50. The closing stock price on December 31, 2018, is $36.70.
Calculate the following profitability ratios for 2018 (Do not round intermediate calculations. Round your answers to 1 decimal place.):
- GPR
- ROA
- NPM
- ROE
- Asset Turnover
- P/E
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