The balance sheets for Video Screens Corporation and additional information are provided below. Additional information for 2024 : 1. Net income is $70,240. 2. Sales on account are $1,557,000. (All sales are credit sales) 3. Cost of goods sold is $1,185,900 Required: 1. Calculate the following profitability ratios for 2024 : 2. When we compare two companies, can one have a higher return on assets while the other has a higher return on equity? Calculate the following profitability ratios for 2024: (Round your answers to 1 decimal place. When wo compare two companies, can one have a higher return on assets' while the other has a higher feturn on equity