Exercise 15-19 Shown below is the liabilities and stockholders' equity section of the balance sheet for Ayayai Company and Pina Company. Each has assets totaling $4,396,000. | Pinaco. Ayayai Co. Current liabilities Long-term debt, 10% Common stock ($20 par) Retained earnings (Cash dividends, $237,000) $328,000 1,220,000 2,090,000 758,000 $4,396,000 Current liabilities Common stock ($20 par) Retained earnings (Cash dividends, $360,000) $658,000 2,980,000 758,000 $4,396,000 For the year, each company has earned the same income before interest and taxes. Pina Co. $1,250,000 Income before interest and taxes Interest expense Ayayai Co. $1,250,000 122,000 1,128,000 507,600 $620,400 Income taxes (45%) 1,250,000 562,500 $687,500 Net income At year end, the market price of Ayayai's stock was $101 per share, and Pina's was $63.50. Assume balance sheet amounts are representative for the entire year. (a) Calculate the return on total assets? (Round answers to 2 decimal places, e.g. 16.85%.) Return on total assets Ayayai Company Pina Company Which company is more profitable in terms of return on total assets? (b) Calculate the return on common stock equity? (Round answers to 2 decimal places, e.g. 16.85%.) Return on common stock equity Ayayai Company Pina Company 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 Ayayai Companys Pina Company A Which company has the greater net income per share of stock? Neither company issued or reacquired shares during the year. (01) From the point of view of net income, is it advantageous to the stockholders of Ayayai 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 Ayayai Companys Pina Company $