Below is the financial information for Procter & Gamble Co. and Unilever PLC for the fiscal year 2023:

($ millions)	Procter & Gamble Co.	Unilever PLC
Net sales	$82,034	$63,187
Cost of sales	41,805	32,045
Gross profit	40,229	31,142
Operating expenses:
Selling, general, and administrative	15,824	13,678
Research and development	7,098	4,211
Operating income	17,307	13,253
Interest and other (income) expense	2,109	1,658
Interest and investment income	(712)	(486)
Earnings before provision for income taxes	15,910	12,081
Provision for income taxes	3,182	2,416
Net earnings	$12,728	$9,665

Required: a. Compute the return on equity (ROE), return on assets (ROA), and return on financial leverage (ROFL) for Procter & Gamble Co. and Unilever PLC. Assume a tax rate of 28%. b. Break down the ROA into profit margin (PM) and asset turnover (AT) for both companies. Identify the key drivers of ROA. c. Evaluate the operating cash flow for Procter & Gamble Co. and Unilever PLC over the last three years. How does it affect their ability to sustain dividend payments? d. Assess the debt-to-equity ratio for both companies. Discuss its implications for their financial risk. e. Compare the selling, general, and administrative (SG&A) expenses as a percentage of sales for Procter & Gamble Co. and Unilever PLC. What can be inferred about their operational efficiency?