Use the Following Information About Sanibel Corporation to Calculate the Following

Use the following information about Sanibel Corporation to calculate the following ratios for 2011 (assume an effective tax rate of 35%):
a.Return on Assets
b.Profit margin for ROA
c.Assets Turnover
d.Return on Common Shareholders' Equity
e.Profit Margin for ROCE
f.Accounts Receivable Turnover
g.Inventory Turnover
h.Fixed Asset Turnover
Sanibel Corporation
Balance Sheet
$\begin{array}{l}\begin{array}{lll}\text {As of December 31 ,}\\\text {Assets:}\\\text {Cash and cash equivalents}\\\text {Accounts Receivable}\\\text {Inventory}\\\text {Current Assets}\\\end{array}\begin{array}{lll}2011&2010\\\\\$ 712,300 & \$ 425,000 \\408,000 & 106,250 \\510.000 & 612.000\\1,630,300 & 1,143,250\\\end{array}\end{array}$
$\begin{array}{l}\begin{array}{lll}\text {Equipment}\\\text {Less: Accumulated depreciation}\\\text {Land}\\\\\text {Total assets}\\\end{array}\begin{array}{lll}714,000 & 654,500 \\(238,000) & (119,000) \\425,000 & 170,000 \\\\\$ 2,531,300&\$ 1,848,750\\\end{array}\end{array}$
$\begin{array}{lrrr}\text { Liabilities }\\\text { Accounts Payable } & \$ 297,500 & \$ 382,500 \\\text { Accrued Salaries Payable } & 93,500 & 136,000 \\\text { Rent Expense Payable } & 37,400 & 17,000 \\\text { Income Tax Payable } & 117.300 & 68.000\\\text {Current Liabilities}&545,700&603,500\\\end{array}$
$\begin{array}{lr}\text {Long-term note payable}&850,000& 510,000\\ \text {Total Liabilities}& 1,395,700&1,113,500\\\\\text { Stockholders' Equity: }\\\text { Common stock }&714,000 & 510,000 \\\text { Retained earnings }&421.600 & 225,250\\\\\text {Total liabilities and stockholders' equity}&\$ 2,531,300&\$ 1,848,750\\\\\text {Sanibel Corporation}\\\text {Income Statement}\\\text {For the year ended December 31,2011}\\\\\text {Revenues}& \$ 2,499,000 \\ \text {Cost of goods sold}&(1,428,000) \\ \text { Gross Profit }&& 1,071,000 \\\\\text { Operating Expenses }\\\text { Depreciation expense } & (112,000) \\\text { Salary expense } & (233,600) \\\text { Insurance Expense } & (40,000) \\\text { Rent Expense } & (160,000) \\\quad \text { Interest Expense } & (67.200)\\\text {Total Operating Expenses}&&(612,800)\\\\\text {Income from Operations }&&458,200\\\text {Income Tax Expense}&&(160,370)\\\\\text {Net income}&&\$ \quad 297.830 \\\end{array}$