The following condensed information is reported by a company. Year 2 Year 1 $13,020,000 8,436,960 394,320 $9,000,000 6,500,000 308,000 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 $ 1,660,000 2,260,000 $ 3,920,000 $ 1,260,000 1,440,000 860,000 360,000 $ 3,920,000 $1,560,000 1,960,000 $3,520,000 $ 960,000 1,440,000 860,000 260,000 $3,520,000 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 Total assets Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and stockholders' equity $ 3,920,000 $ 1,260,000 1,440,000 860,000 360,000 $ 3,920,000 $3,520,000 $ 960,000 1,440,000 860,000 260,000 $3,520,000 Required: 1. Calculate the following profitability ratios for Year 2: (Round your answers to 1 decimal place.) b. Profitability Ratios a. Gross profit ratio Return on assets c. Profit margin d. Asset turnover e. Return on equity ee times 2. Determine the amount of dividends paid to shareholders in Year 2. The amount of dividends paid