Computation of Profitability Ratios
Shown Below Are Selected Data from a Recent

Computation of profitability ratios
Shown below are selected data from a recent annual report of Tall Oaks Co. (Dollar amounts are in thousands.)
Compute for the year the company's:
$\begin{array}{|l|r|r|}\hline \text { Total assets } & \begin{array}{c}\text { Beginning } \\\text { of the Year }\end{array} & \begin{array}{c}\text { End of } \\\text { the Year }\end{array} \\\hline\text { Total assets } &\$7,400&\$8,100\\\hline \text { Total stockholders equity } & \$ 3,900 & \$ 4,600 \\\hline \text { Net sales } & & \$ 14,000 \\\hline \text { Gross profit } && \$ 5,000 \\\hline \text { Operating income } && \$ 1,400 \\\hline \text { Net income } && \$ 1,000 \\\hline\end{array}$ $$\begin{array} { | l | l | l | } \hline \text { (a) } & \text { Gross profit rate. } &\_\_\_\_ \% \\\hline \text { (b) } & \text { Return on average total assets } &\_\_\_\_ \% \\\hline \text { (c) } & \text { Return on average total stockholders' equity } &\_\_\_\_ \% \\\hline & & \\\hline\end{array}$$