Profitability ratios help in the analysis of the combined impact of liquidity ratios, asset manspement ratios, and debt management ratios on the operating performance of a firm. Your boss has asked you to caiculate the protitablity ratios of Randal and Arts inc. and make comments on its second-year performance as compared with its first-year performance. The following shows Randall and Arts IncS income statement for the last two years. The company fiad assets of $7,050 milion in the first year and $11,278 millian in the second year. Common equity was equal to $3,750 million in the first year, and the compary distributed 100% of its eamings out as dividends during the first and the second years. In add tion, the firm did not issue new stock during either year. Randall and Arts Inc. Income Statement For the Year Ending on December 31 (Millons of dollars) Calculate the profitability rabios of Mandall and Arts inc, in the following table. Convert all calculations to a percentage rounded to two decimal places. Decisan makers and analysts look deeply into profitability patios to identify trends in a companvis profitability, Profitability ratuos give insights inte both the survivatidy of a company and the benefis that sharehoiders receive. Identfy which of the following statements are true about profitability ratias. Check ail that apply