Profitability ratios help in the anaiysis of the combined impact of liquidity rotios, asset management ratios, and debt management ratios on the operating performance of a firm. Your boss has asked you to calculate the profitablity ratios of Sxty-Second Avenue inci and make comments on its second-year performance as compared with its first-year performance. The following shows Soxty-5econd Avenue Inci's income statement for the last two years. The company had assets of $3,525 milison in the first year and $5,639 million in the second year, Common equity was equal to $1,875 milsion in the first year, and the company distrouted 100% of its earnings out as dividends during the first and the second years. In addition, the firm did not issue new stock during either year. Sixty-Second Avenue Inc. Income Statement For the Year Ending on December 31 (Millions of dollars) Colculate the profitabiliny ratios of Sixty-Second Avenue Inc, in the following tabie. Convert ali calculations to a percentage rounded to two decimal places. Dedision makers and analysts look deeply into profabiity ratios to identify trends in a company's profitability. Profrabizity ratios 9 ve insights into both the survivability of a company and the benefits that shareholders receive. Identify which of the following statements are true about profitability ratios. Oheck an that sppir