Current Attempt in Progress Shown below is the liabilities and stockholders' equity section of the balance sheet for Sheffield Company and Pharoah Company. Each has assets totaling $4,376,000. Sheffield Co. Pharoah Co. Current liabilities $285,000 Current liabilities $755,000 Long-term debt, 11% 1,150,000 Common stock ($20 par) 2,860,000 Common stock ($20 par) 2,180,000 Retained earnings (Cash dividends, $315,000) 761,000 Retained earnings (Cash dividends, $216,000) 761,000 $4,376,000 $4,376,000 For the year, each company has earned the same income before interest and taxes. Sheffield Co. Pharoah Co. Income before interest and taxes $1,150,000 $1,150,000 Interest expense 126,500 0 1,023,500 1,150,000 Income taxes (20%) 204,700 230,000 Net income $818,800 $920,000 At year-end, the market price of Sheffield's stock was $101 per share, and Pharoah's was $63.50. (a) Calculate the return on total assets? (Round answers to 2 decimal places, e.g. 16.85%.) Return on total assets Sheffield company % Pharoah company % (b) Calculate the return on common stock equity? (Round answers to 2 decimal places, e.g. 16.85%) Return on common stock Sheffield company Pharoah company equity %6 %6 Which company is more profitable in terms of return on common stockholders' equity? (c) Calculate the Net income per share. (Round answers to 2 decimal places, e.g. 6.85.) Net income per share Sheffield company $ Pharoah company $ Which company has the greater net income per share of stock? Neither company issued or reacquired shares during the year. (d1) From the point of view of net income, is it advantageous to the stockholders of Sheffield Co. to have the long-term debt outstanding? (e) What is the book value per share for each company? (Round answers to 2 decimal places, e.g. 6.85.) Book value per share Sheffield company $ Pharoah company $