Please show work for all questions. All ROE are using Beggining Equity

1. On January 1, 2021 Company XYZ had assets of $100,000 and no liabilities. During 2021 XYZ recorded revenues of $150,000 and had a profit margin of 30 percent. What was the companys net income in 2020? Please show work or explanation for all questions, except if indicated otherwise.

2. What was the beginning equity? No need to show work for this question.

3. What was ending equity?

4. What was return on beginning equity (in class we always used average equity, but you should be able to answer this question)?

5. In 2022 the company had the same sales and profit-margin. What was ending equity?

6. Return on equity?

7.Why did ROE go down?