exercise 12-9 (algo) calculate profitability ratios (lo12-4)the following condensed information is reported by world of stamp collectibles. 2024 2023income statement information sales revenue $7,612,000 $7,700,000cost of goods sold 5,031,532 5,200,000net income 321,780 178,000balance sheet information current assets $1,530,000 $1,430,000long-term assets 2,130,000 1,830,000total assets $3,660,000 $3,260,000current liabilities $1,130,000 $830,000long-term liabilities 1,570,000 1,570,000common stock 730,000 730,000retained earnings 230,000 130,000total liabilities and stockholders' equity $3,660,000 $3,260,000required:1. calculate the following profitability ratios for 2024:2. determine the amount of dividends paid to shareholders in 2024.