(.) You skipped this question in the previous attempt. 2. Sales on account are $1,382,500. (All sales are credit sales.) 3. Cost of goods sold is $1,077,150. Required: 1. Calculate the following profitability ratios for 2024 : 2. When we compare two companies, can one have a higher return on assets while the other has a higher return on equity? Complete this question by entering your answers in the tabs below. Required 1 Required 2 When we compare two companies, can one have a higher return on assets while the other has a higher return on equity? When we compare two companies, can one have a higher return on assets while the other has a higher return on equity? VIDEO SCREENS CORPORATION Balance Sheets December 31, 2024 and 2023 2024 2023 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 Additional information for 2024: 1. Net income is $112,000. 2. Sales on account are $1,382,500. (All sales are credit sales.) 3. Cost of goods sold is $1,077,150. Required: 1. Calculate the following profitability ratios for 2024 : 2. When we compare two companies, can one have a higher return on assets while the other has a higher return on equity? Required: 1. Calculate the following profitability ratios for 2024 : 2. When we compare two companies, can one have a higher return on assets while the other has a higher return on equity? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate the following profitability ratios for 2024: (Round your answers to 1 decimal place.)