The balance sheets for Video Screens Corporation and additional information are provided below.

VIDEO SCREENS CORPORATION

Balance Sheets

December $31,2024$ and $2023$

$20242023$

Assets

Current assets:

Cash $$189,880$ $$113,000$

Accounts receivable $64,00085,000$

Inventory $88,00073,000$

Investments $3,3001,300$

Long$-$term assets:

Land $410,000410,000$

Equipment $720,000600,000$

Less: Accumulated depreciation $(358,000)(198,000)$

Total assets $$1,117,180$ $$1,084,300$

Liabilities and Stockholders' Equity

Current liabilities:

Accounts payable $$91,600$ $$78,000$

Interest payable $5,50011,300$

Income tax payable $7,5004,300$

Long$-$term liabilities:

Notes payable $120,000240,000$

Stockholders' equity:

Common stock $630,000630,000$

Retained earnings $262,580120,700$

Total liabilities and stockholders' equity $$1,117,180$ $$1,084,300$

Additional information for $2024$:

Net income is $$141,880.$

Sales on account are $$1,281,400.($All sales are credit sales.$)$

Cost of goods sold is $$1,014,300.$

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?