Analyze the financials of General Electric (GE) and Siemens for the fiscal year 2018 using the following data:

($ millions)	General Electric	Siemens
Net sales	$121,615	$97,548
Cost of goods sold	$76,450	$60,789
Gross profit	$45,165	$36,759
Operating expenses	$28,500	$23,467
Operating income	$16,665	$13,292
Interest and other (income) expense	$1,800	$1,200
Earnings before provision for income taxes	$14,865	$12,092
Provision for income taxes	$4,500	$3,800
Net earnings	$10,365	$8,292

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 GE's equity is $50,000 million and total assets are $300,000 million, while Siemens' equity is $45,000 million and total assets are $275,000 million. c. Determine the debt-to-equity ratio for both companies. d. Discuss the financial leverage and profitability of both companies based on your calculations. e. Perform a comparative analysis of operational efficiency by calculating the asset turnover ratio for each company.