Consolldated Balance Sheets December 28, 2019 and December 29, 2018 (MIIIIons of Dollars) Other Liablities Commitmenis and Contingencies (Noles R asd S) Shartowners' Equity Stanley Black s Decker, he. Shareowners' Equily Prelerred slock, without par value: Authorized 10,000,000 shares in 2019 and 2018 Issued and outstandine 1,500,000 sheres in 2019 and 750,000 shares in 2018 2.446 .0 Common sock, oarvatue $2.50 per share: Authorized 300.000 .000 shares in 2019 and 2018 tisued 176.902,738 shares in 2019 and 2018 Retahed earnings Aastional paid in capital Aceumulated other corrorehentive ion: Esop Lesk cost of cormmon slock in treasury (23.396.329 shams in 2019 and 25,600,283 shares in 2018 ) Staniev Black s Decker, Inc, Shareowners' Equily Noncontroling interests: Total Shareowners' Equity Total Liabilities and Shartowners' Equity \begin{tabular}{|c|c|} \hline 442.3 & 4423 \\ \hline 6,7728 & 6.2190 \\ \hline 4,492.9 & 4.621 .0 \\ \hline(1.004.6) & (1,8143) \\ \hline (23) & {[105]} \\ \hline 11,321.1 & 10,207.5 \\ \hline (2,184.8) & (2.371.3) \\ \hline 9,136.3 & 7,836.2 \\ \hline 5.9 & 3.7 \\ \hline 9.1422 & 78399 \\ \hline 20596.6 & 19.4080 \\ \hline \end{tabular} See Notes to Consoldated Financial Statements: C3. Snap On Inc, is a smaller public competitor of Stanley. Below you will find their Net Sales and the Asset portion of their Balance Sheet. How does their Asset Turnover compare to Stanley's? The two firms are different in their history of M\&A activity. How can you adjust the ratios to take that into account and make the comparison less 'apples to orange'? Hint - you have to exclude some assets from the balance sheets of both firms. What do you observe when the Asset Turnover is adjusted in this way? [ 5 points]