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 0.4. for Year 1 - True or false: The recording of depreciation expense will reduce working capital. - 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. - True or false: A company looking to decrease its Average Days in Inventory could do so by holding less inventory in its warehouse, therefore decreasing the dollar value of inventory on the balance sheet. Question 2 2 pts Amy's Antiques decides to retire a large piece of equipment with a net book value of $8,071. Prior to the retirement, Amy's Antiques had total liabilities of $100,000 and total assets of $120,000. What is Amy's Debt to Assets ratio after the retirement? Round your final answer to two decimal places