Help System Announcements S Problem 13-1A (Part Level Submission) Here are comparative statement data for Sunland Company and Blossom Company, two competitors. All balance sheet data are as of December 31, 2017, and December 31, 2016. Blossom Company Sunland Company 2017 2016 2017 2016 Net sales Cost of goods sold Operating expenses Interest expense Income tax expense $1,934,000 1,069,000 266,000 8,500 74,600 $572,000 283,000 86,000 2,200 33,000 By. Current assets Plant assets (net) Current liabilities Long-term liabilities 417,248 674,304 84,896 145,907 $399,885 640,000 97,043 115,200 106,670 178,852 45,245 37,914 $ 101,718 161,039 38,760 32,000 640,000 640,000 153,600 153,600 Common stock, $10 par Retained earnings 220,749 187,642 48,763 38,397 (a) Your answer is correct, Prepare a vertical analysis of the 2017 income statement data for Sunland Company and Blossom Company. (Round all ratios to 1 decimal place, e.g. 2.5%.) Condensed Income Statement For the Year Ended December 31, 2017 Sunland Company Dollars Percent Blossom Company Dollars Percent $1,934,000 100 % $572,000 100 % Net Sales 1,069,000 55. % 283,000 % 49.5 Cost of Goods Sold 865,000 44.7 % 289,000 50.5% Gross Profit M 266,000 13. 86,000 15% Operating Expenses 599,000 30.9 % 203,000 35.5 % Income From Operations Other Experses and Losses M 8,500 0.4 2,200 0.4 Interest Expense 590,500 351 200,800 30.5 % Income Before Income Taxes % 5.8 74,600 3.0 33,000 Scome Tax Experte 5115 56167.80 Dollars Percent Dollars Percent Net Sales $1,934,000 100 % $572,000 100 % Cost of Goods Sold 1,069,000 M 55.31% 283,000 49.5% Gross Profit 865,000 44.7 % 289,000 50.5% Operating Expenses M 266,000 13.7 % 86,000 15% Income From Operations 599,000 30.9 % 203,000 35.5 % Other Expenses and Losses Interest Expense V 8,500 0.4 % 2,200 0.41 % Income Before Income Taxes 590,500 30.5 % 200,800 35.1 % income Tax Expense v 74,600 3.8 % 33,000 5.8 % Net Income / (Loss) $515,900 26.6 % $167,800 29 % Click if you would like to Show Work for this question: Open Show Work SHOW ANSWER LINK TO TEXT LINK TO TEXT (61) X Your answer is incorrect. Try again. Compute the 2017 return on assets and the return on common stockholders' equity for both companies. (Round all ratios to 1 decimal place, e.g. 2.5%) Sunland Company Blossom Company Return on assets % % Return on common stockholders' equity % % Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT LINK TO TEXT