Erin,the owner of Sweets To Eat Ice Cream Shoppe,wants to know how her company is operating from a financial perspective.Her CPA has given her the following numbers: Sales $325,000,Operating Profits $50,000,Current Assets $125,000,Current Liabilities $40,000,and Total Assets $350,000.The ice cream retail industry norms include Operating Profit Margin 10%,Return on Assets 11% and Current Ratio 2.7.Determine the company's profitability on its assets and compare to the industry ratios.
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