Exercise 12-8 (Algo) Calculate profitability ratios (LO12-4) The balance sheets for Dual Monitors Corporation and additional information are provided below. Additional information for 2024 : 1. Net income is $122,160. 2. Sales on account are $1,314,800. (All sales are credit sales.) 3. Cost of goods sold is $1,035,050. Required: 1. Calculate the following profitability ratios for 2024 : 2. When we compare two companies, can one have a higher return on assets while the other has a higher return on equit?? Complete this question by entering your answers in the tabs below. Calculate the following profitability ratios for 2024: (Round your answers to 1 decimal place.) Additional information for 2024 : 1. Net income is $122,160. 2. Sales on account are $1,314,800. (All sales are credit sales.) 3. Cost of goods sold is $1,035,050. Required: 1. Calculate the following profitability ratios for 2024 : 2. When we compare two companies, can one have a higher return on assets while the other has a higher return on equity? Complete this question by entering your answers in the tabs below. When we compare two companies, can one have a higher return on assets while the other has a higher return on equity