Answer the following true or false questions using the dropdown menus provided.

In Year $1,$ Mandi's Milk has a Net Income of $$200,000$ and a Total Assets of $$500,000.$ In Year $0,$ Mandi's Milk had a Net Income of $$150,000$ and a Total Assets of $$400,000.$ True or false: Mandi's Milk's Return on Assets is $0\mathrm{.}40.$ for Year $1[$ Select $]["$True$",$ "False"$]$

True or false: The recording of an impairment loss will reduce working capital. $[$ Select $]["$True$",$ "False"$]$

Umbridge's Umbrellas has been forced to reduce the value of its see$-$through umbrellas due to their declining popularity. True or false: As the result of applying lower of cost or market, gross profit will decrease. $[$ Select $]["$True$",$ "False"$]$