12 of 13 < > Here are comparative statement data for Sheridan Company and Crane Company, two competitors. All balance sheet data are as of December 31, 2020, and December 31, 2019. Sheridan Company Crane Company 2020 2019 2020 2019 Net sales $1,861,000 $556,000 Cost of goods sold 1,051,465 323.592 Operating expenses 241,930 75,616 Interest expense 7,444 3,892 Income tax expense 65,135 28,356 Current assets 323,300 $313,100 81,900 $78,900 Plant assets (net) 527,500 500,000 138,300 125,600 Current liabilities 66,000 75,200 35,500 30,600 Long-term liabilities 116,000 88,000 29,200 24,700 Common stock, $10 par 491,000 491,000 118,000 118,000 Retained earnings 177,800 158,900 37,500 31,200 (a) Prepare a vertical analysis of the 2020 income statement data for Sheridan Company and Crane Company. (Round all ratios to 1 decimal place, e.g. 2.5%) Condensed Income Statement For the Year Ended December 31, 2020 Sheridan Company Crane Company Dollars Percent Dollars Percent Net Sales $1,861,000 100 % $556,000 100 Cost of Goods Sold 1,051,465 56.5 % 323.592 58.2 Gross Profit 809,535 43.5 % 232,408 418 Operating Expenses 241,930 13 % 75.616 13.6 Income From Operations v 567,605 30.5 % 156,792 28.2 Other Expenses and Losses Interest Expense 7,444 0.4 % 3,892 0.7 Question 12 of 13 Interest Expense 4.39/5 === 7,444 0.4 % 3,892 0.7 % Income Before Income Taxes 560,161 30.1 % 152,900 27.5 % Income Tax Expense Net Income/(Loss) 65,135 3.5 % 28,356 5.1 % $495,026 26.6 % $124,544 22.4 % (b1) Compute the 2020 return on assets and the return on common stockholders' equity for both companies. (Round all ratios to 1 decimal place, eg. 2.5%) Return on assets Return on common stockholders' equity Sheridan Company Crane Company 73.84 86.09 % 102.92 %