Here are comparative statement data for Carla Vista Company and Wildhorse Company, two competitors. All balance sheet data are as of December 31, 2017, and December 31, 2016. Carla Vista Company Wildhorse Company 2017 2016 2017 2016 Net sales $1,934,000 $572,000 Cost of goods sold 1,072,000 294,000 Operating expenses 268,000 92,000 Interest expense 8,200 3,100 Income tax expense 67,400 33,000 Current assets Plant assets (net) Current liabilities Long-term liabilities 459,625 $440,498 742,788 705,000 93,518 106,899 160,726 126,900 117,504 197,016 49,841 41,764 $ 112,048 177,395 42,696 35,250 Common stock, $10 705,000 169,200 169,200 par 705,000 206,699 Retained earnings 243,169 53,715 42,297 Your answer is correct Prepare a vertical analysis of the 2017 income statement data for Carla Vista Company and Wildhorse Company. (Round all ratios to 1 decimal place, e.g. 2.5%.) Condensed Income Statement For the Year Ended December 31, 2017 Carla Vista Company Wildhorse Company Condensed Income Statement For the Year Ended December 31, 2017 Carla Vista Company Dollars Percent $1,934,000 Wildhorse Company Dollars Percent Net Sales 100% $572,000 100% Cost of Goods Sold 1,072,000 55.41 % 294,000 51.41% Gross Profit 862,000 44.61% 278,000 48.61 % Operating Expenses 268,000 13.9% 92,000 16.11% Income From Operations 594,000 30.71 % 186,000 32.5% Other Expenses and Losses Interest Expense 8,200 0.41% 3,100 0.57% Income Before Income Taxes 585,800 30.31% 182,900 32.00% 3.5 % 5.81 % Income Tax Expense 67,400 33,000 Net Income / (Loss) $518,400 $149,900 Click if you would like to Show Work for this question: Open Show Work 26.8 % 26.21% SHOW ANSWER LINK TO TEXT LINK TO TEXT Income Tax Expense 67,400 3.5 % 33,000 5.80 % Net Income / (Loss) $518,400 26.8% $149,900 26,21 % Click if you would like to Show Work for this question: Open Show Work SHOW ANSWER LINK TO TEXT LINK TO TEXT Attempts: 2 of 3 used (61) 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%.) Carla Vista Company Wildhorse 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 Attempts: 0 of 3 used