The following condensed information is reported by a company. Year 2 Year 1 $9,612,000 6,305,472 348, 880 $8,200,000 5,700,000 228,000 Income Statement Information Sales revenue Cost of goods sold Net income Balance Sheet Information Current assets Long-term assets Total assets Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and stockholders' equity $1,580,000 2,180,000 $3,760,000 $1,180,000 1,520,000 780,000 280,000 $3,760,000 $1,480,000 1,880,000 $3,360,000 $ 880,000 1,520,000 780,000 180,000 $3,360,000 Required: 1. Calculate the following profitability ratios for Year 2: (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 times . LU Total assets Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and stockholders' equity $3,760,000 $3,360,000 $1,180,000 $ 880,000 1,520,000 1,520,000 780,000 780,000 280,000 180,000 $3,760,000 $3,360,000 Required: 1. Calculate the following profitability ratios for Year 2: (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 % times % 2. Determine the amount of dividends paid to shareholders in Year 2. The amount of dividends pald