Walden Corp. reported the following amounts in the shareholders' equity section of its December 31, 2019 Statement of Financial Position:

Preferred shares, $8 dividend (10,000 shares authorized, 2,000 shares issued)	$200,000
Common shares (unlimited authorized, 25,000 issued)	600,000
Contributed surplus	55,000
Retained earnings	250,000
Accumulated other comprehensive income	75,000
Total	$1,180,000

During 2020, the company had the following transactions that affect shareholders' equity.

1. Paid the annual 2019 $8 per share dividend on preferred shares and a $3 per share dividend on common shares. These dividends had been declared on December 31, 2019.
2. Purchased 3,700 of its own outstanding common shares for $35 per share and cancelled them.
3. Issued 1,000 preferred shares at $105 per share (at the beginning of the year).
4. Declared a 10% stock dividend on the outstanding common shares at their fair value when the shares were selling for $45 per share.
5. Issued the stock dividend.
6. Declared the annual 2020 $8 per share dividend on preferred shares and a $2 per share dividend on common shares. These dividends are payable in 2021.

The contributed surplus arose from net excess of proceeds over cost on a previous cancellation of common shares. Total assets on December 31, 2019, were $2,140,000, and total assets at December 31, 2020, were $2,616,000. The company follows IFRS.

Instructions:

Calculate the rate of return on common shareholders' equity and the rate of return on total assets for 2020. Round to two decimal places. Is Walden trading on the equity? Evaluate the results from the perspective of a common shareholder.

You should fully answer the above requirement, especially I need you to carefully explain the following opinion: "Is Walden trading on the equity? Evaluate the results from the perspective of a common shareholder." This will help me better understand the assignment requirements. Thanks very much!