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EDGAR: Raytheon (ticker: RTX) and Northrop Grumman (ticker: NOC) Visit www.sec.gov/edgar and search for the annual reports (10-K) of Raytheon/ United Technolgies and Northrop Grumman

EDGAR: Raytheon (ticker: RTX) and Northrop Grumman (ticker: NOC) Visit www.sec.gov/edgar and search for the annual reports (10-K) of Raytheon/ United Technolgies and Northrop Grumman for the year ended December 31, 2019, using EDGAR (Electronic Data Gathering, Analysis, and Retrieval system). Locate the balance sheet and income statement of each company. Required: Calculate the return on equity (ROE) for both companies. 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? Calculate the return on assets (ROA) for both companies. Which company delivers a higher return to shareholders based on ROA? Explain how a company can have a slightly higher ROA than its competitor, but a much higher ROE

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