Here are comparative statement data for Crane Company and Sheridan Company, two competitors. All balance sheet data are as of December 31, 2022, and
Here are comparative statement data for Crane Company and Sheridan Company, two competitors. All balance sheet data are as of December 31, 2022, and December 31, 2021. Crane Company Sheridan Company 2022 2021 2022 2021 Net sales $1,882,000 $610,000 Cost of goods sold 1,062,000 297,000 Operating expenses 255,000 Interest expense 7,100 Income tax expense 69,000 83,000 3,400 34,000 Current assets 537,859 $515,477 137,504 $ 131,121 Plant assets (net) 869,220 825,000 230,551 207,590 Current liabilities 109,436 125,095 58,324 49,964 Long-term liabilities 188,084 148,500 48,873 41,250 Common stock, $10 par 825,000 825,000 198,000 198,000 Retained earnings 284,559 241,882 62,858 49,497 Prepare a vertical analysis of the 2022 income statement data for Crane Company and Sheridan Company. (Round all ratios to 1 decimal place, e.g. 2.5%) (b1) Condensed Income Statement For the Year Ended December 31, 2022 Crane Company Dollars $1,882,000 Percent Sheridan Company Dollars Percent 100 % $610,000 100 % 1,062,000 57.3 % 297,000 50.8 % 820,000 42.7 % 313,000 49.2 % 255,000 13.9 % 83,000 14.1 % 565,000 28.8 % 230,000 35.1 % 7,100 0.4 % 3,400 % 557,900 28.3 % 226,600 69,000 3.7 % 34,000 % % $488,900 24.6 % $192,600 173400 % Compute the 2022 return on assets and the return on common stockholders' equity for both companies. (Round all ratios to 1 decimal place, e.g. 2.5%.) Return on assets Return on common stockholders' equity Crane Company Sheridan Company % % %
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