BTN$10-2.$ Comparative Analysis Problem: Columbia Sportswear Company versus Under Armour,

Inc. The financial statements for the Columbia Sportswear Company can be found in Appendix A$,$ and the financial statements of Under Armour, Inc., can be found in Appendix B$.$

Required

Answer the following questions as they relate to fiscal year $2020$:

a$.$ Calculate the return on common stockholders' equity for each company for the year.

b$.$ Calculate the dividend payout ratio for each company for the year.

c$.$ Based on these ratios, which company performed better for its shareholders during the year?COLUMBIA SPORTSWEAR COMPANY

CONSOLIDATED STATEMENTS OF OPERATIONS

Year Ended December $31,$

$\backslash$table$[[($in thoutands. excopt per share amounts$),2020,2019,2018],[$Net sales,$$,2,501,554,$$$,3,042,478,$$$,2,802,326],[$Cost of sates,,$1,277,665,,1,526,808,,1,415,978],[$Gross profit,,$1,223,889,,1,515,670,,1,386,348],[$Selling$.$ general and administrative expenses,,$1,098,948,,1,136,186,,1,051,152],[$Net licensing income,,$12,108,,15,487,,15,786],[$Income from operations,,$137,049,,394,971,,350,982],[$Interest income, net,,$435,,8,302,,9,876],[$Other non$-$operating income $($expense$),$ net,,$2,039,,2,156,,(141)],[$Income before income tax,,$139,523,,405,429,,360,717],[$Income tax expense,,$(31,510),,(74,940),,(85,769)$