C1. Please calculate the Return-on-Common-Equity (ROCE) for FY 2020 and FY 2019 for both companies. Do not show your calculations, just provide the answers. Please use the Net Income Attributable to Common Stockholders. (13%)

Verizon AT&T

FY 2020 FY 2020

FY 2019 FY 2019

C2. In over 50-words, please explain to the broker the information provided by the Return-on-Common-Equity (10%)

C3. In over 100-words, which one of the two companies will you recommend to the broker? Why? (10%)