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Exercise 12-8B Calculate profitability ratios (LO12-4) The balance sheets for Company B and additional information are provided below. Additional information for Year 2: 1. Net

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Exercise 12-8B Calculate profitability ratios (LO12-4) The balance sheets for Company B and additional information are provided below. Additional information for Year 2: 1. Net income is $167,040. 2. Sales on account are $1,813,900. 3. Cost of goods sold is $1,346,550. Required: 1. Calculate the following profitability ratios for Year 2: (Round your answers to 1 decimal place.)

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