+ 5) Comparative calendar year financial data for a company are shown below. Calculate the following ratios for Year 2 using the information provided below. (a) return on total assets (b) return on equity. Sales Gross profit Income before taxes Net income Year 2 Year 1 $ 720,000 270,000 $ 607,500 224,800 79,200 78,700 51,200 51,700 December 31, Year December 31, Liabilities Common stock ($12 par) Contributed capital in excess of par Retained earnings Total liabilities and equity 2 $ 493,500 180,000 135,000 204,000 $ 1,012,500 Year 1 $ 452,500 180,000 135,000 177,300 $ 944,800