EXercises: Set B and Challenge Exercises PROBLEMS olow the rounding procedures used in the chapiter. petitors, appear below 2016 P14-1 Comparative statement data for Farris Company and Ratzlaff Company, two com Prepare vertical anabyst and All balance sheet data are as of December 31. 2017, and December 31, c comment on profitability (LO 1, 2) Farris Company Rtzlaff Company 2017 $1,549,035 1,080,490 302,275 2016 2017 2UIO- 2016 Net sales Cost of goods sold Operating expenses Interest expense Income tax expense Current assets Plant assets (net) Current liabilities Long-term liabilities Common stock, $10 par Retained earnings $339,038 241,000 79,000 2,252 6,650 325,975 $312,410 83,336 139,728 35,348 29,620 120,000 38,096 8,980 54,500 79,467 125,812 30,281 25,000 120,000 29,998 500 7 521,310 65,325 108,500 500,000 500,000 173,460 146,595 75,815 90,000 nent Analysis Instructions (a) Prepare a vertical analysis of the 2017 income statement data for Farris Company and Ratzlaff Company in columnar form. (b) Comment on the relative profitability of the companies by computing the return on assets and the return on common stockholders' equity for both companies