Statements of Net Income and Comprehensive Income Vertical Analyses, Profitability Analyses The Golden Fence Company and Stone Wall Corporation are competitors in manufacturing walls and fences. Their income statements have been provided on the ENTERANSWERS tab. The other information follows: Golden Fence Company Stone Wall Corporation Average Total Assets S 1,258,287 $ 102,211 Average Stockholders' Equity $ 654,309 $ 74,614 Use the blue shaded areas on the ENTERANSWERS tab for inputs. Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions tab you will be marked wrong. Requirements 1 Prepare common-size income statements. 2 Compute profit margin, return on assets, and return on stockholders' equity. a. Use cell references from prior calculations, if applicable. Saving & Submitting Solution 1 Save file to desktop. a. Create folder on desktop, and label COMPLETED EXCEL PROJECTS 2 Upload and submit your file to be graded. Navigate back to the activity window-screen where you downloaded the initial spreadsheet Click Choose button under step 3; locate the file you just saved and click Open a. b. C. Click Upload button under step 3 d. Click Submit button under step 4 Viewing Results 1 Click on Results tab in MyAccountingLab 2 Click on the Assignment you were working on 3 Click on Project link; this will bring up your Score Summary 4 Within Score Summary window, click on Download (upper right) to download the spreadsheet with feedback 1. Prepare common-size income statements. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions tab you will be marked wrong.) (amounts in millions) Sales Cost of Goods Sold Gross Profit Selling, General, and Administrative Expenses Other Operating Expenses Interest Expense Earnings Before Provision for Taxes Provision for Taxes Net Income Percent of Sales Golden Fence Company Stone Wall Corporation Golden Fence Company Stone Wall Corporation $ 987,236 $ 67,450 678,626 43,370 308,610 24,080 58,636 2,408 12,344 722 24,689 193 212,941 20,757 74,529 7,265 138,412 $ 13,492 2. Compute profit margin, return on assets, and return on stockholders' equity. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions tab you will be marked wrong. Use cell references from prior calculations, if applicable.) Profit Margin Return on Assets Return on Stockholders' Equity Golden Fence Company Stone Wall Corporation