The balance sheets for Plasma Screens Corporation and additional information are provided below. 2017 $ PLASMA SCREENS CORPORATION Balance Sheets December 31, 2018 and 2017 2018 Assets Current assets: Cash 164,000 Accounts receivable 88.000 Inventory 99.000 Investments 4,400 Long-term assets: Land 520.000 Equipment 830.000 Less: Accumulated depreciation (468,000) 124.000 95.000 84.000 2.400 520.000 710.000 (308,000) Total assets $ 1.235.400 $ 1.228.400 $ 99,800 8,000 10.000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings 89,000 12,400 5.400 110.000 220,000 740.000 267,600 740.000 161,600 Total liabilities and stockholders' equity $ 1,235,400 $ 1.228.400 Additional information for 2018: 1. Net income is $106.000. 2. Sales on account are $1,665,300. 3. Cost of goods sold is $1,253,550. Required: 1. Calculate the following profitability ratios for 2018: (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 2. When we compare two companies, can one have a higher retum on assets while the other has a higher return on equity? Yes O No