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Problem 3-8 Profitability ratios (LO3-2) Easter Egg and Poultry Company has $1,000,000 in assets and $600,000 of debt. It reports net income of $100,000 a. What is the firm’s return on assets? (Enter your answer as a percent rounded to 2 decimal places.) Return on assets 10.00% b. What is its return on stockholders’ equity? (Enter your answer as a percent rounded to 2 decimal places.) Return on equity % c. If the firm has an asset turnover ratio of 3 times, what is the profit margin (return on sales)? (Enter your answer as a percent rounded to 2 decimal places.) Profit margin Problem 3-10 Profitability ratios (L03-2) Fondren Machine Tools has total assets of $3,500,000 and current assets of $801000. It turns over its fixed assets 3.4 times per year. Its return on sales is 6.9 percent. It has $1,630,000 of debt. What is its return on stockholders’ equity? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.) Return on stockholders’ equity %