Profitability ratios help in the analysis of the combined impact of liquidity ratios, asset management ratios, and deb management ratios on the operating performance of a firm Your boss has asked you to calculate the profitability ratios of Triptych Food Corp. and make comments on its second-year performance as compared to its first-year performance The following shows Triptych Food Corp.'s income statement for the last two years. The company had assets of $8,225 million in the first year and $13,157 milion in the second year. Common equity was equal to $4,375 million in the first year, and the company distributed 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 Triptych Food Corp Income Statement For the Year Ending on December 31 (Millions of dollars) Year 2 Yar 1 4,445 1,365 Net Sales 3,500 1,268 140 1,408 2,092 167 1,925 770 1,155 Operating costs except depreciation and amortization Depreciation and amortization Total Operating Costs Operating Income (or EBIT) Less: Interest Earnings before taxes (EBT) Less: Taxes (40%) Net Income 1,587 2,858 386 2,472 989 1,483