Problem 9-1 Here are comparative statement data for Blossom Company and Sunland Company, two competitors. All balance sheet data are as of December 31, 2017, and December 31, 2016. Net sales Cost of goods sold Operating expenses Interest expense Income tax expense Blossom Company 2017 2016 $1,852,000 1,090,000 270,000 7,300 74,100 Sunland Company 2017 2016 5590,000 297,000 83,000 2,200 33,000 Current assets Plant assets (net) Current liabilities Long-term liabilities 736,704 1,190,568 149,895 257,617 $706,047 1,130,000 171,342 203,400 188,339 315,785 79,886 66,941 $ 179,595 284,335 68,435 56,500 1,130,000 1,130,000 271,200 271,200 Common stock, $10 par Retained earnings 389,760 331,305 86,097 67,795 Prepare a vertical analysis of the 2017 income statement data for Blossom Company and Sunland Company. (Round all ratios to 1 decimal place, e.g. 2.5%.) Condensed Income Statement For the Year Ended December 31, 2017 Blossom Company Sunland Company Dollars Percent Dollars Percent $1,852,000 $590,000 % % 7 1,090,000 % 297,000 % 762,000 % 293,000 % 270,000 % 83,000 % 7 492,000 % 210,000 % 7,300 % 2,200 % 7 484,700 % 207,800 % 7 74,100 % 33,000 % 7 $410,600 $174,800 % 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%.) Blossom Company Sunland Company Return on assets % % Return on common stockholders' equity % %