Analyze the financial health of Sony and Panasonic using the provided data for the fiscal year 2020:

($ millions)	Sony	Panasonic
Net sales	$86,274	$68,892
Cost of goods sold	$54,128	$44,567
Gross profit	$32,146	$24,325
Operating expenses	$18,764	$13,456
Operating income	$13,382	$10,869
Interest and other (income) expense	$1,200	$900
Earnings before provision for income taxes	$12,182	$9,969
Provision for income taxes	$3,654	$3,000
Net earnings	$8,528	$6,969

Required: a. Calculate the gross profit margin, operating profit margin, and net profit margin for each company. b. Compute the return on equity (ROE) and return on assets (ROA) for both companies. Assume Sony's equity is $55,000 million and total assets are $200,000 million, while Panasonic's equity is $50,000 million and total assets are $180,000 million. c. Determine the debt-to-equity ratio for both companies. d. Compare the profitability and financial leverage of both companies based on your calculations. e. Discuss the financial leverage and operational efficiency of both companies.