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Amy has been asked to calculate the profitability ratios of Cold Goose Metal Works, Inc. and make comments on its second-year performance as compared to its first-year performance. The following shows Cold Goose's income statement for the last two years. The company had assets of $9,400,000 in the first year and $15,036,800 in the second year. Common equity was equal to $5,000,000 in the first year, 100% of earnings were paid out as dividends in the first year, and the firm did not issue new stock in the second year. Cold Goose Metal Works, Inc. Income Statements Years Ending December 31 Year Net Sales Operating costs less depreciation and amortization Depreciation and amortization Total Operating costs Operating Income Interest Earnings before taxes Taxes (40%) Year 2 Year 1 $5,080,000 $4,000,000 1,855,000 1,722,500 254,000 160,000 $2,109,000 $1,882,500 $2,971,000 $2,117,500 401,085 222,338 $2,569,915 1,027,966 $1,895,162 758,065 Net Income $1,541,949 $1,137,097 Given the income statements, calculate the profitability ratios of Cold Goose Metal Works, Inc. Profitability Ratio Value Year 2 Year 1 52.94% Operating profit margin Net profit margin Return on total assets Return on common equity 30.35% 12.10% 22.74% Which of the following statements are true about profitability ratios? Check all that apply. A higher operating profit margin than the industry average indicates ether lower operating costs, higher product pricing, or both. If a company's operating margin increases but its profit margin decreases, it could mean that the company paid more in interest or taxes, An increase in a company's earnings means that the net profit margin is increasing If a company issues new common shares but its net income does not increase, return on common equity will increase. Grade It Now Save & Continue