The balance sheets for Plasma Screens Corporation and additional information are provided below. PLASMA SCREENS CORPORATION Balance Sheets December 31, 2021 and 2020 2021 2020 $ $ 242,000 98,000 105,000 5,000 130,989 102,000 90,000 3,000 Assets Current assets: Cash Accounts receivable Inventory Investments Long-term assets: Land Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity 580,000 890,000 (528, 000) $1,392,000 580,000 770.000 (368,000) $1,307,000 $ 1999000 7,000 9,000 95,000 13,000 6,000 110,000 220,000 800, een 357,000 $1,392.eee 800,00 173,000 $1,307,000 Additional information for 2021 1. Net Income is $184,000. 2. Sales on account are $1,890,000 3. Cost of goods sold is $1,394,250. Additional information for 2021: 1. Net income is $184,000. 2. Sales on account are $1.890,000 3. Cost of goods sold is $1.394,250. Required: 1. Calculate the following profitability ratios for 2021: (Round your answers to 1 decimal place.) Profitability Ratios a. Gross profit ratio b. Rotum on assets C. Profit margin d. Asset tumover e Return on equity 2. When we compare two companies, con one have a higher return on assets while the other has a higher return on equity? Yes No