i Account information Accounts Payable 41,000||Accrued Liabilities 23,000 Retained Earnings Long-term Note Payable 100,500 Common Shares, Accounts Receivable, net 108,000 Preferred Shares, $1.05 240,000 shares authorized, 49,000 shares issued 65,000 share authorized and outstanding 245,000 37,000 7,400 shares issued Dividends Payable 51,000 4,500| Cash 569,000| Inventory Total Assets, Dec 31, 2019 193,500 143,000 Property, Plant, and Net Income 385,000 Common Shareholders' Equipment, net 522,000 Prepaid Expenses Equity, Dec 31, 2019 18,000 Interest Expense 14,000 Patent, net 45,000 Assets Current assets: 51,000 Cash Accounts receivable, net 108,000 Inventory 193,500 18,000 Prepaid expenses 370,500 Total current assets Property, plant and equipment, net 385,000 %24 Intangible assets: 45,000 Patent, net $ 800,500 Total assets Liabilities Current liabilities: Accounts payable 41,000 Accrued liabilities payable 23,000 4,500 Dividends payable %24 Accounts payable 41,000 Accrued liabilities payable 23,000 4,500 Dividends payable 68,500 Total current liabilities 100,500 Long-term note payable 169,000 Total liabilities Shareholders' Equity Contributed capital: %24 Shareholders' Equity Contributed capital: Preferred shares, $1.05 37,000 65,000 shares authorized and 7,400 issued Common shares 240,000 shares authorized 245,000 49,000 shares issued Total contributed capital 282,000 00 OTUIU UULI IUIIZC LTU,U 245,000 49,000 shares issued Total contributed capital 282,000 349,500 Retained earnings 631,500 Total shareholders' equity $ 800,500 Total liabilities and shareholders' equity Requirement 2. Compute the rate of return on total assets and the rate of return on common shareholders' equity for the year ended December 31, 2020. Begin by calculating the rate of return on assets. (Do not round intermediary calculations. Only round the amount you input in the cell to the nearest tenth percent.) 22.9 Rate of return on assets Now compute Crandell's rate of return on common shareholders' equity. (Do not round intermediary calculations. Only round the amount you input in the cell to the nearest tenth percent.) 24.2 % Rate of return on common shareholders' eauitv Requirement 3. Do these rates of return suggest strength or weakness? Give your reason. These rates of return suggest some strength. Return on common shareholders' equity is higher than the return on assets