How to resize images proportionally / keeping the aspect ratio?

I think this is a really cool method:

 /**
  * Conserve aspect ratio of the original region. Useful when shrinking/enlarging
  * images to fit into a certain area.
  *
  * @param {Number} srcWidth width of source image
  * @param {Number} srcHeight height of source image
  * @param {Number} maxWidth maximum available width
  * @param {Number} maxHeight maximum available height
  * @return {Object} { width, height }
  */
function calculateAspectRatioFit(srcWidth, srcHeight, maxWidth, maxHeight) {

    var ratio = Math.min(maxWidth / srcWidth, maxHeight / srcHeight);

    return { width: srcWidth*ratio, height: srcHeight*ratio };
 }

Have a look at this piece of code from http://ericjuden.com/2009/07/jquery-image-resize/

$(document).ready(function() {
    $('.story-small img').each(function() {
        var maxWidth = 100; // Max width for the image
        var maxHeight = 100;    // Max height for the image
        var ratio = 0;  // Used for aspect ratio
        var width = $(this).width();    // Current image width
        var height = $(this).height();  // Current image height

        // Check if the current width is larger than the max
        if(width > maxWidth){
            ratio = maxWidth / width;   // get ratio for scaling image
            $(this).css("width", maxWidth); // Set new width
            $(this).css("height", height * ratio);  // Scale height based on ratio
            height = height * ratio;    // Reset height to match scaled image
            width = width * ratio;    // Reset width to match scaled image
        }

        // Check if current height is larger than max
        if(height > maxHeight){
            ratio = maxHeight / height; // get ratio for scaling image
            $(this).css("height", maxHeight);   // Set new height
            $(this).css("width", width * ratio);    // Scale width based on ratio
            width = width * ratio;    // Reset width to match scaled image
            height = height * ratio;    // Reset height to match scaled image
        }
    });
});