Violet Corporation Partial Balance Sheet (Condensed) Jan 31, Jan 31, Jan 31, (in millions) 2020 2019 2018 Total current assets $ 7,050 $ 40,260 $ 23,290 Property, plant, and equipment 25,200 25,700 25,000 Other assets 910 880 870 $ 33,160 $ 66,840 $ 49,160 Total assets This question: 5 poin Violet Corporation operates general merchandise and food discount stores in the United States. The company reported the following information for the three years ending January 31, 2020 (Click the icon to view the income statement and partial balance sheet.) Requirement Using the facts provided, identify or calculate the information that is relevant to deciding whether or not the company was profitable and specify how each piece is relevant to your decision Use return on assets to determine whether or not the company was profitable. Begin by identifying the formula to calculate return on assets Net income Average total assets Return on assets (ROA) Compute the return on assets for the year ended January 31, 2020 (Round to one decimal place.) The return on assets for the year ended January 31, 2020, % Compute the return on assets for the year ended January 31, 2019 (Round to one decimal place.) The return on assets for the year ended January 31, 2019, is% What factors contributed to the change in return on assets during the year? (Only complete the necessary answer boxes.) Income statement and partial balance sheet Violet Corporation Income Statement (Adapted) For the years ended (in millions) Total net revenue Cost of revenue Selling, general, and administrative Operating income or loss Other revenue (expense) Income before tax Income tax expense Net income Violet Corporation Jan 31, Jan 31, Jan 31, 2020 2019 2018 $ 60,000 $ 58,000 $ 56,000 21,000 20,300 19,600 34,190 33,306 32,420 4,810 4,394 3,980 (760) (870) (860) 4,050 3,524 3,120 (1,050) (914) (720) 3,000 $ 2,610 $ 2,400 Partial Balance Sheet (Condensed)