Analyze the financial performance of Verizon and AT&T using the provided data for the fiscal year 2018:

($ millions)	Verizon	AT&T
Net sales	$130,863	$170,756
Cost of goods sold	$55,374	$79,687
Gross profit	$75,489	$91,069
Operating expenses	$40,254	$60,232
Operating income	$35,235	$30,837
Interest and other (income) expense	$4,000	$5,500
Earnings before provision for income taxes	$31,235	$25,337
Provision for income taxes	$9,370	$7,600
Net earnings	$21,865	$17,737

Required: a. Compute the gross profit margin, operating profit margin, and net profit margin for each company. b. Calculate the return on equity (ROE) and return on assets (ROA) for each company. Assume Verizon's equity is $100,000 million and total assets are $250,000 million, while AT&T's equity is $90,000 million and total assets are $300,000 million. c. Determine the debt-to-equity ratio for both companies. d. Compare the profitability of both companies based on your calculations. e. Perform a trend analysis for net earnings by comparing 2017 and 2016 data, which are $19,950 million and $17,600 million for Verizon and $18,200 million and $16,500 million for AT&T, respectively.