The balance sheets for a company and additional information are provided below Additional information for 2024 1. Net income is $106.000 2. Sales on account are $1,665;300 (All soles are credit sales) 3 Cont of goods sold is $1,253,550 Additional information for 2024 1. Net income is $106,000 2. Sales on account are $1,665.300. (All sales are credit sales) 3. Cost of goods sold is $1,253,550 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 orr 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.) Additional information for 2024 : 1. Net income is $106,000. 2. Sales on occount are \$1,665,300. (Alt sales are credit sales) 3. Cost of goods sold is $1,253,550 Required: 1. Calculate the followng 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 componies, can one have a higher return on assets while the cther has a higher retum on equity