Check my wol The following income statements were drawn from the annual reports of the Atlanta Company and the Boston Company: Atlanta $ 34,800 (16,620) 18,180 Boston* $ 86, 100 (63,300) 22,800 Net sales Cost of goods sold Gross margin Less: Operating exp. Selling and admin. exp. Net income (12,880) $ 5,300 (16,740) $ 6,060 *All figures are reported in thousands of dollars. Required a-1. Compute the gross margin percentages and return-on-sales ratios of Atlanta and Boston. (Round your answers to the nearest whole number.) a-2. One of the companies is a high-end retailer that operates in exclusive shopping malls. The other operates discount stores locate in low-cost, standalone buildings. Ascertain which of the company is a high-end retailer based on ratios computed. b. If Atlanta and Boston have equity of $18,000 and $20,200, respectively, which company is in the more profitable business? Complete this question by entering your answers in the tabs below. Required A1 Required A2 Required B Compute the gross margin percentages and return-on-sales ratios of Atlanta and Boston. Atlanta Boston 52% 26 % Gross margin percentages Return-on-sales ratios % %