Problem 13-01A Here are comparative statement data for Crane Company and Sheridan Company, two competitors. All balance sheet data are as of December 31, 2022, and December 31, 2021 Net sales Cost of goods sold Operating expenses Interest expense Income tax expense Crane Company 2022 2021 $1,882,000 1,062,000 255,000 7,100 69,000 Sheridan Company 2022 2021 $610,000 297,000 83,000 3,400 34,000 Current assets Plant assets (net) Current liabilities Long-term liabilities Common stock, $10 par Retained earnings 537,059 $515,477 869,220 825,000 109,436 125,095 188,084 140,500 137,504 $ 131, 121 230,551 207,590 58,324 49,964 48,073 41,250 825,000 284,559 825,000 241,882 198,000 62,858 198,000 49,497 Prepare a vertical analysis of the 2022 Income statement data for Crane Company and Sheridan Company. (Round all ratios to 1 decimal place, 0.9. 2.596.) Condensed Income Statement For the Year Ended December 31, 2022 Crane Company Dollars Percent Sheridan Company Dollars Percent Prepare a vertical analysis of the 2022 income statement data for Crane Company and Sheridan Company. (Round all ratios to 1 decimal place, e.g. 2.5%.) Condensed Income Statement For the Year Ended December 31, 2022 Crane Company Dollars Percent $1,882,000 96 Sheridan Company Dollars Percent $610,000 1,062,000 96 297,000 820,000 6 313,000 255,000 83,000 565,000 230,000 7,100 06 3,400 * * 557,900 # 226,600 69,000 34,000 $480,900 $192,600 (51) (11) Compute the 2022 return on assets and the return on common stockholders' equity for both companies. (Round all ratios to 1 decimal place, e.g. 2.5%.) Crane Company Sheridan Company Return on assets Return on common stockholders' equity % % Click if you would like to Show Work for this question: Open Show Work Problem 13-01A Here are comparative statement data for Crane Company and Sheridan Company, two competitors. All balance sheet data are as of December 31, 2022, and December 31, 2021 Net sales Cost of goods sold Operating expenses Interest expense Income tax expense Crane Company 2022 2021 $1,882,000 1,062,000 255,000 7,100 69,000 Sheridan Company 2022 2021 $610,000 297,000 83,000 3,400 34,000 Current assets Plant assets (net) Current liabilities Long-term liabilities Common stock, $10 par Retained earnings 537,059 $515,477 869,220 825,000 109,436 125,095 188,084 140,500 137,504 $ 131, 121 230,551 207,590 58,324 49,964 48,073 41,250 825,000 284,559 825,000 241,882 198,000 62,858 198,000 49,497 Prepare a vertical analysis of the 2022 Income statement data for Crane Company and Sheridan Company. (Round all ratios to 1 decimal place, 0.9. 2.596.) Condensed Income Statement For the Year Ended December 31, 2022 Crane Company Dollars Percent Sheridan Company Dollars Percent Prepare a vertical analysis of the 2022 income statement data for Crane Company and Sheridan Company. (Round all ratios to 1 decimal place, e.g. 2.5%.) Condensed Income Statement For the Year Ended December 31, 2022 Crane Company Dollars Percent $1,882,000 96 Sheridan Company Dollars Percent $610,000 1,062,000 96 297,000 820,000 6 313,000 255,000 83,000 565,000 230,000 7,100 06 3,400 * * 557,900 # 226,600 69,000 34,000 $480,900 $192,600 (51) (11) Compute the 2022 return on assets and the return on common stockholders' equity for both companies. (Round all ratios to 1 decimal place, e.g. 2.5%.) Crane Company Sheridan Company Return on assets Return on common stockholders' equity % % Click if you would like to Show Work for this question: Open Show Work