The balance sheets for Plasma Screens Corporation and additional information are provided below. PLASMA SCREENS CORPORATION Balance Sheets December 31, 2021 and 2020 2021 2020 Assets Current assets: 3:45 149,560 72,000 92,000 3,700 Cash 117,000 89,000 Accounts receivable Inventory 77,000 Investments 1,700 Long-term assets: Land ok 450,000 760,000 (398,000) 450,000 640,000 (238,000) Equipment Less: Accumulated depreciation $1,129,260 $1,136,700 Total assets nt Liabilities and Stockholders' Equity Current liabilities Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: 95,400 6,000 82,000 11,700 4,700 int 8,000 110,000 220,000 670,000 148,300 Common stock 670,000 rences 239,860 Retained earnings $1,129,260 $1,136,700 Total liabilities and stockholders' equity Additional information for 2021: 1. Net income is $91,560. 2. Sales on account are $1,416,800 3. Cost of goods sold is $1,098,500. Required: 1. Calculate the following profitability ratios for 2021: (Round your answers to 1 decimal place.) Retained earnings 239,860 148,300 Total liabilities and stockholders' equity $1,129,260 $1,136,700 Additional information for 2021 1. Net income is $91,560 2. Sales on account are $1,416,800 3. Cost of goods sold is $1,098,500 Required: 1. Calculate the following profitability ratios for 2021: (Round your answers to 1 decimal place.) Profitability Ratios a. Gross profit ratio % b. Return on assets % c. Profit margin % Asset turnover di times e. Return on equity % ences ,can one have a higher return on assets while the other has a higher return on equity? 2. When we compare two companies, Yes No