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 $ 217,600 $ 110,000 58,000 82,890 85,000 79,899 3,000 1,000 380,000 380,000 690,000 570,000 (328,000) (168,090) $1,105,600 $1,045,000 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 Stockholdersequity: Common stock Retained earnings Total liabilities and stockholders' equity $ $ 89,000 5,000 7,000 75,000 11,800 4,800 120,000 240,000 600,000 284,600 $1,105,600 600,000 115,000 $1,845,000 Additional information for Year 2 1. Net income is $169,600. 2 Sales on account are $1183,000. 3. Cost of goods sold is $953,250. Required: 1. Calculate the following profitability ratios for Year 2(Round your answers to 1 decimal place.) % Profitability Ratios a Gross profit ratio b. Return on assets c Profit margin d Asset turnover e Return on equity times % The Year 2 income statement of Company A reports sales of $17,262,000, cost of goods sold of $10,624,000, and net income of $1.640.000 Balance sheet information is provided in the following table COMPANY A Blance Sheets December 31, Year 2 nd Year 1 Year 2 Year 1 Assets Current assets: Cash 540,000 $300,000 Accounts receivable 1,480,000 1,040,000 Inventory 1,889,800 1,440,000 Long-term sets 4,840,000 4,210,000 Total assets 38,840,000 $7,560,000 Libilities and Stockholders' Equity Current liabilities $1,980,000 $1,700,000 Long-term abilities 2,340,000 2,449,000 Common stock 1,960,000 1,960,000 Retained earnines 2,560,000 1.460.800 Total liabilities and stockholders' equity $8,840,000 52,560,000 Industry averages for the following four risk ratios are as follows Average collection period Average days in inventory Current ratio Det to equity retto 25 days Goday's 2 to 1 5 Required 1. Calculate the fournisk-relos listed above for Company A in Year 2. (Use 365 days in a year. Round your answers to 1 decimal place Fask Ratios Average collection period Average days in inventory Current ratio Dent to sculty ratio days days to 1 % 2. Do you think the company is more risky or less risky than the industry average? More risky 10