Please explain, Thank you!

The balance sheets for Monitor World Corporation and additional information are provided below. Additional information for 2024: 1. Net income is $167,040. 2. Sales on account are $1,813,900. (All sales are credit sales.) 3. Cost of goods sold is $1,346,550. Required: Additional information for 2024 : 1. Net income is $167,040. 2. Sales on account are $1,813,900. (All sales are credit sales.) 3. Cost of goods sold is $1,346,550. 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. Calculate the following profitability ratios for 2024: (Round your answers to 1 decimal place.) 1. Net income is $167,040. 2. Sales on account are $1,813,900. (All sales are credit sales.) 3. Cost of goods sold is $1,346,550. 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