Problem 13-1A Here are comparative statement data for Sheridan Company and Crane Company, two competitors. All balance sheet data are as of December 31, 2017, and December 31, 2016. Sheridan Company Crane Company 2016 2017 2016 2017 $1,931,000 $561,000 Net sales 1,084,000 296,000 Cost of goods sold 255,000 91,000 Operating expenses Interest expense 2,400 6,800 32,000 Income tax expense 67,800 176,672 $ 168,470 $662,309 691,067 Current assets Plant assets (net) 266,721 1,116,816 1,060,000 296,223 74,938 140,609 160,728 64,196 Current liabilities 241,659 190,800 62,794 53,000 Long-term liabilities Common stock, $10 par 254,400 1,060,000 1,060,000 254,400 Retained earnings 63,596 365,615 310,781 80,764 (a) Prepare a vertical analysis of the 2017 income statement data for Sheridan Company and Crane Company. (Round all ratios to 1 decimal place, e.g. 2.5%.) Condensed Income Statement For the Year Ended December 31, 2017 Sheridan Company Crane Company Dollars Percent Dollars Percent $1,931,000 $561,000 296,000 % 1,084,000 % 847,000 265,000 91,000 255,000 592,000 174,000 6,800 2,400 585,200 % 171,600 67,800 32,000 % $139,600 $517,400 (b1) 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%.) Sheridan Company Crane Company % Return on assets % % Return on common stockholders' equity