Question: Selected comparative statement data for Binimi Corporation and Prowel Inc., two competitors, appears below. All balance sheet data is as of December 31, 2020, and

Selected comparative statement data for Binimi Corporation and Prowel Inc., two competitors, appears below. All balance sheet data is as of December 31, 2020, and December 31, 2019. Bimini Corporation Prowel Inc. 2020 2019 2020 2019 Sales $628,000 $1,780,000 Gross profit 256,000 870,000 Operating expenses 141,000 344,000 Deprecation expense 10,000 14,800 Interest expense 5.400 16,800 Income tax expense 63.000 144,000 Current assets 217,000 $213,000 789,000 $737,000 Property, plant, and equipment (net) 410,000 375,000 935,000 985,000 Current liabilities 171,000 98,000 465,000 486,000 Long-term liabilities 86,000 179,000 224,000 270,000 Common shares 228,000 184,000 680,000 630,000 Retained earnings 142,000 127,000 419,000 394,000 Prepare common-size analysis of the 2020 income statement data for Bimini Corporation and Prowel Inc. (If an amount reduces the account balance then enter with negative sign. Round percentage values to 1 decimal place, e.g. 15.3.) Income Statement Year Ended December 31, 2020 DOLLARS Depreciation Expense Income Tax Expense Profit from Operations Profit Before Income Tax Operating Expenses Sales Interest Expense Net Income Cost of Goods Sold Gross Profit PERCENT DOLLARS PERCENT % % % % % % % % % % % % % % % % % % % % Calculate the return on assets, the asset turnover, and the return on equity ratios for both companies. (Round return on assets and return on equity to 1 decimal place, e.g. 15.3%. Round asset turnover to 2 decimal places, e.g. 1.53.) Return on assets Asset Turnover Return on equity Bimini Corporation % times % Prowel Inc. % times %

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