Summarised statements of financial position and other financial information for Ballarat Ltd and Bendigo Ltd are presented below. Both companies own and operate retail shops in Victoria. Statements of financial position as at 30/6/19: Other information for the year ending 30/6/19: Sales 963,000 958,000 Cost of good sold 645,000 640,000 Interest expense 30,000 52,000 Income tax expense 66,000 61,000 Profit after income tax 153,000 143,000 Statements of financial position as at 30/6/19: Current assets Non-current assets Total assets Current liabilities Non-current liabilities Ordinary shareholders' equity Total liabilities and shareholders' equity Required: Ballarat Ltd Bendigo Ltd $ $ 420,000 472,000 677,000 628,000 1,097,000 1,100,000 101,000 218,000 191,000 420,000 805,000 462,000 1,097,000 1,100,000 A friend of yours is undertaking an analysis of these two companies. Included in the analysis are the following two ratios (it may be assumed that these have been calculated correctly): Return on owners' equity Return on total assets Ballarat Ltd 19% Bendigo Ltd 31% 23% 23% Your friend made the following comment: 'I cannot understand how two companies can have the same return on total assets but completely different rates of return on owners' equity'. Using any additional calculations of financial ratios, you think are necessary, explain the situation to your friend