The balance sheets for Company B and additional information are provided below. COMPANY B Balance Sheets December 31, Year 2 and Year 1 Year 2 Year 1 139,920 $ 122,000 82,000 94,000 97,000 82,000 4,200 2,200 500,000 500,000 810,000 690,000 (448,000) 288,000) $1,185,120 $1,202,200 Assets Current assets: Cash Accounts receivable Inventory Investments Long-term assets: Land Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity Common stock Retained earnings Total liabilities and stockholders' equity $ 99,400 7,000 9,000 87,000 12,200 5,200 120,000 240,000 720,000 229, 720 $1,185,120 720,000 137,800 $1,202,200 Additional information for Year 2: 1. Net income is $91,920. 2. Sales on account are $1,592,800. 3. Cost of goods sold is $1,208,250. Required: 1. Calculate the following profitability ratios for Year 2: (Round your answers to 1 decimal place.) % % Profitability Ratios a. Gross profit ratio b. Retum on assets c. Profit margin d. Asset tumover e. Return on equity % times % 2. When we compare two companies, can one have a higher return on assets while the other has a higherre Yes O No