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Selected comparative statement data for Binimi Corporation and Prowel Inc., two competitors, appears below. All balance sheet data is as of December 31, 2020, and
Selected comparative statement data for Binimi Corporation and Prowel Inc., two competitors, appears below. All balance sheet data is as of December 31, 2020, and December 31, 2019. Bimini Corporation Prowel Inc. 2020 2019 2020 2019 Sales $634,000 $1,860,000 Gross profit 288,000 902,000 Operating expenses 141,000 350,000 Deprecation expense 11,400 14,600 Interest expense 6,000 15,800 Income tax expense 44,000 135,000 Current assets 217,000 $207,000 795,000 $735,000 Property, plant, and equipment (net) 432,000 397,000 884,000 934,000 Current liabilities Long-term liabilities 160,000 93,000 427,000 478,000 89,000 179,000 230,000 254,000 Common shares 259,000 206,000 612,000 562,000 Current liabilities 160,000 93,000 427,000 478,000 Long-term liabilities 89,000 179,000 230,000 254,000 Common shares 259,000 206,000 612,000 562,000 Retained earnings 141,000 126,000 409,000 384,000 Prepare common-size analysis of the 2020 income statement data for Bimini Corporation and Prowel Inc. (If an amount reduces the account balance then enter with negative sign. Round percentage values to 1 decimal place, eg. 15.3.) Income Statement Year Ended December 31, 2020 Bimini Corporation Dollars Percent $ Pro Dollars % $ % Dollars $ Bimini Corporation Percent Dollars $ Bimini Corporation Prowel Inc. Dollars Percent Dollars Percent % $ % % % % % % % % % % Calculate the return on assets, the asset turnover, and the return on equity ratios for both companies. (Round return on assets and return on equity to 1 decimal place, e.g. 15.3%. Round asset turnover to 2 decimal places, e.g. 1.53.) Return on assets Asset Turnover Bimini Corporation % times Prowel Inc. % times Return on equity % %
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