calculate the following profability ratios for 2024 and 2025: ( round your answers to 1 decimal place.)

2. Calculate the following profitability ratios for 2024 and 2025: (Round your answers to 1 decimal place.) Income Statements For the Years Ended December 31 NetsalesCostofgoodssoldGrossprofitExpenses:OperatingexpensesDepreciationexpenseLossonsaleoflandInterestexpenseIncometaxexpenseTotalexpensesNetincome2025$3,540,0002,486,0001,054,000961,00036,000021,0008,6001,026,60027,4002024$3,066,0001,956,0001,110,000864,00030,0008,60018,00051,000971,600138,400 VIRTUAL GAMING SYSTEMS Balance Sheets December 31 202520242023 Assets Current assets: Cash Accounts receivable Inventory Prepaid rent $210,00084,000134,00014,600$192,00087,000111,00012,600$150,00066,000141,0006,720 Long-term assets: Investment in bonds Land Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity