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 $102,200. 2. Sales on account are $1,348,500. 3. Cost of goods sold is $1,056,000. Required: Additional information for Year 2: 1. Net income is $102,200. 2. Sales on account are $1,348,500 3. Cost of goods soid is $1,056,000. Required: 1. Calculate the following profitability ratios for Year 2: (Round your answers to 1 decimal place.) 2. When we compare two companies, can one have a higher return on assets while the other has a higher return on equity