\begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|} \hline \multirow{2}{*}{\begin{tabular}{l} (dollars in millions, except per share amounts; shares in millions) \\ For The Year \end{tabular}} & \multicolumn{2}{|c|}{2019} & \multicolumn{2}{|c|}{2018} & \multicolumn{2}{|c|}{2017} & \multicolumn{2}{|c|}{2016} & \multicolumn{2}{|c|}{2015} \\ \hline & & & & & & & & & & \\ \hline Net sales & $ & 77,046 & $ & 66,501 & $ & 59,837 & $ & 57,244 & $ & 56,098 \\ \hline Research and development & & 3,015 & & 2,462 & & 2,427 & & 2,376 & & 2,262 \\ \hline Restructuring costs & & 425 & & 307 & & 253 & & 290 & & 396 \\ \hline Net income from continuing operations 1 & & 5,948 & & 5,654 & & 4,920 & & 5,436 & & 4,356 \\ \hline Net income from continuing operations attributable to common shareowners 1 & & 5,537 & & 5,269 & & 4,552 & & 5,065 & & 3,996 \\ \hline Basic earnings per share-Net income from continuing operations attributable to common shareowners & & 6.48 & & 6.58 & & 5.76 & & 6.19 & & 4.58 \\ \hline Diluted earnings per share-Net income from continuing operations attributable to common shareowners & & 6.41 & & 6.50 & & 5.70 & & 6.13 & & 4.53 \\ \hline Cash dividends per common share & & 2.94 & & 2.84 & & 2.72 & & 2.62 & & 2.56 \\ \hline \multicolumn{11}{|l|}{ Average number of shares of Common Stock outstanding: } \\ \hline Basic 2 & & 855 & & 800 & & 790 & & 818 & & 873 \\ \hline Diluted 2 & & 864 & & 810 & & 799 & & 826 & & 883 \\ \hline Cash flows provided by operating activities of continuing operations & & 8,883 & & 6,322 & & 5,631 & & 6,412 & & 6,755 \\ \hline Capital expenditures 3 & & 2,256 & & 1,902 & & 2,014 & & 1,699 & & 1,652 \\ \hline Acquisitions, including debt assumed \& equity issued & & 56 & & 31,142 & & 231 & & 712 & & 556 \\ \hline Repurchases of Common Stock 3 & & 151 & & 325 & & 1,453 & & 2,254 & & 10,000 \\ \hline Dividends paid on Common Stock (excluding ESOP) & & 2,442 & & 2,170 & & 2,074 & & 2,069 & & 2,184 \\ \hline \multicolumn{11}{|l|}{ At Year End } \\ \hline Working capital 4 & $ & 2,911 & $ & 4,135 & $ & 8,467 & $ & 6,644 & $ & 4,088 \\ \hline Total assets & & 139,716 & & 134,211 & & 96,920 & & 89,706 & & 87,484 \\ \hline Long-term debt, including current portion 5 & & 41,284 & & 44,068 & & 27,093 & & 23,300 & & 19,499 \\ \hline Total debt 5 & & 43,648 & & 45,537 & & 27,485 & & 23,901 & & 20,425 \\ \hline Total debt to total capitalization 5 & & 50% & & 53% & & 47% & & 45% & & 41% \\ \hline Total equity 5,6 & & 44,231 & & 40,610 & & 31,421 & & 29,169 & & 28,844 \\ \hline Number of employees 7 & & 243,200 & & 240,200 & & 204,700 & & 201,600 & & 197,200 \\ \hline \end{tabular} Requlred: 1. Calculate the return on equity (ROE) for both companles. For Raytheon, use "Net Income attributable to common shareowners and "Total equity" to calculate the ratio. For Northrop Grumman, use "Net earnings" and "Total shareholders' equity". Which company delivers a higher return to shareholders based on ROE? 2. Calculate the return on assets (ROA) for both companles. Which company dellvers a higher return to shareholders based on ROA? 3. Explain how a company can have a slightly higher ROA than Its competitor, but a much higher ROE. Complete this question by entering your answers in the tabs below. Calculate the return on equity (ROE) for both companies. Which company delivers a higher return to shareholders based on ROE? Note: Round your percentage answers to 1 decimal place. Calculate the return on assets (ROA) for both companies. Which company delivers a higher return to shareholders based on ROA? Note: Round your percentage answers to 1 decimal place