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Your boss has asked you to calculate the profitability ratios of sixty-second Avenue Inc. and make comments on its second-year performance as compared to its

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Your boss has asked you to calculate the profitability ratios of sixty-second Avenue Inc. and make comments on its second-year performance as compared to its first-year performance. The following shows sixty-second Avenue Inc.'s income statement for the last two years. The company had assets of $8,225 million in the first year and $13,157 million in the second year. Common equity was equal to $4,375 million in the first year, and the company distributed 100% of its earnings out as dividends during the first and the second years. In addition, the firm did not issue new stock during either year. Sixty-second Avenue Inc. Income Statement For the Year Ending on December 31 (Millions of dollars) Year 2 Year 1 Net Sales 4,445 3,500 Operating costs except depreciation and amortization 1,855 1,723 Depreciation and amortization 140 Total Operating Costs 2,077 1,863 Operating Income (or EBIT) 2,368 1,637 Less: Interest 320 131 Earnings before taxes (EBT) 2,048 1,506 Less: Taxes (40%) 819 602 Net Income 1,229 904 Calculate the profitability ratios of Sixty-Second Avenue Inc. in the following table. Convert all calculations to a percentage rounded to two decimal places

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