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 $ $ 139,920 82,000 97,000 4,200 122,000 94,000 82,000 2,200 500,000 810,000 (448,000) $1,185,120 500,000 690,000 (288,000) $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 2021: 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 2021: (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 return on assets while the other has a higher return on equity? Yes O No