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Comparative statement data for Farris Company and Ratzlaff Company, two competitors, appear below. All balance sheet data are as of December 31, 2015, and December 31, 2014.
Farris Company
Ratzlaff Company
2015
2014
Net sales
$1,549,035
$339,038
Cost of goods sold
1,080,490
241,000
Operating expenses
302,275
79,000
Interest expense
8,980
2,252
Income tax expense
54,500
6,650
Current assets
325,975
$312,410
83,336
$ 79,467
Plant assets (net)
521,310
500,000
139,728
125,812
Current liabilities
65,325
75,815
35,348
30,281
Long-term liabilities
108,500
90,000
29,620
25,000
Common stock, $10 par
120,000
Retained earnings
173,460
146,595
38,096
29,998
Instructions
(a) Prepare a vertical analysis of the 2015 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.
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