Question 2 Here are comparative statement data for Blossom Company and Sunland Company, two competitors. All balance sheet data are as of December 31, 2020, and December 31, 2019 Net sales Cost of goods sold Operating expenses Interest expense Income tax expense Blossom Company 2020 2019 $1,839,000 1,073,976 239,070 7,356 64,365 Sunland Company 2020 2019 $523,000 276,144 75,312 3,661 28,242 Current assets Plant assets (net) Current liabilities Long-term liabilities 332,200 $310,200 531,200 492,000 67,400 77,300 113,200 92,000 83,800 $78,900 138,500 124,600 35,500 29,900 29,400 25,200 Common stock, $10 par Retained earnings 501,000 181,800 501,000 131,900 120,000 120,000 37,400 28,400 (a) Prepare a vertical analysis of the 2020 income statement data for Blossom Company and Sunland Company. (Round all ratios to 1 decimal place, e.g. 2.5%.) Condensed Income Statement Sunland Company Blossom Company Dollars Percent Dollars Percent 120 00 06 $572 000 07 (a) Prepare a vertical analysis of the 2020 income statement data for Blossom Company and Sunland Company. (Round all ratios to 1 decimal place, e.g. 2.5%.) Condensed Income Statement Sunland Company Blossom Company Dollars Percent Dollars Percent $1,839,000 % $523,000 % 1,073,976 % 276,144 % 765,024 % 246,856 % 239,070 % 75,312 % 525,954 % 171,544 % 7,356 % 3,661 % 518,598 % 167,883 % 64,365 % 28,242 % $454,233 % $139,641 % (61) Compute the 2020 return on assets and the return on common stockholders' equity for both companies. (Round all ratios to 1 decimal place, e.g. 2.5%.) TI 239,070 % 75,312 % 525,954 % 171,544 % 7,356 % 3,661 % 518,598 % 167,883 % 64,365 % 28,242 % $454,233 % $139,641 % (61) Compute the 2020 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 % % Click if you would like to Show Work for this question: Open Show Work