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The selection choice for all the three sub-questions is Sheffield company/Tamarisk company.

Exercise 15-19 Shown below is the liabilities and stockholders' equity section of the balance sheet for Sheffield Company and Tamarisk Company. Each has assets totaling $4,279,000 Sheffield Co. TamariskCo Current liabilities Long-term debt, 9% Common stock ($20 par) Retained earnings (Cash dividends, $198,000) $324,000 1,210,000 2,000,000 745,000 $4,279,000 Current liabilities Common stock ($20 par) Retained earnings (Cash dividends, $310,000) $514,000 3,020,000 745,000 $4,279,000 For the year, each company has earned the same income before interest and taxes Sheffield Co. $1,220,000 108,900 1,111,100 499,995 $611,105 Tamarisk Co. $1,220,000 0 1,220,000 549,000 $671,000 Income before interest and taxes Interest expense Income taxes (45%) Net income At year end, the market price of Sheffield's stock was $101 per share, and Tamarisk'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, eg. 16.85%.) Return on total assets Sheffield Company 0% Tamarisk Company Which company is more profitable in terms of return on total assets