Problem 13-1A (Part Level Submission) Here are comparative statement data for Sandhill Company and Carla Vista Company, two competitors. All balance sheet data are as of December 31, 2017, and December 31, 2016. Sandhill Company Carla Vista Company 2017 2016 2017 2016 Net sales $1,889,000 $578,000 Cost of goods sold 1,074,000 284,000 Operating expenses 270,000 92,000 Interest expense 6,900 3,500 Income tax expense 65,800 29,000 Current assets 590,015 $565,462 150,838 $ 143,835 Plant assets (net) 953,508 905,000 252,908 227,720 Current liabilities 120,048 137,225 63,980 54,809 Long-term liabilities 206,322 162,900 53,612 45,250 Common stock, $10 par 905,000 905,000 217,200 217,200 Retained earnings 312,153 265,337 68,954 54,296 (a) Your answer is correct. Prepare a vertical analysis of the 2017 income statement data for Sandhill Company and Carla Vista Company. (Round all ratios to 1 decimal place, e.g. 2.5%.) Condensed Income Statement For the Year Ended December 31, 2017 Sandhill Company Carla Vista Company Dollars Percent Dollars Percent $1,889,000 % $578,000 % 1,074,000 % 284,000 % 815,000 % 294,000 % 270,000 % 92,000 % 545,000 % 202,000 % 6,900 % 3,500 % 538,100 % 198,500 % 65,800 % 29,000 % $472,300 % $169,500 % Click if you would like to Show Work for this question: Open Show Work Show Answer Link to Text Link to Text Attempts: 1 of 3 used (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%.) Sandhill Company Carla Vista Company Return on assets % % Return on common stockholders equity % %