Comparative income statement data for Pharoah Inc. and Flounder Ltd., two competitors, are shown below for the year ended December 31, 2021. Pharoah Flounder Net sales $2,010,000 $510,000 Cost of goods sold 1,161,780 321,300 Gross profit 848,220 188,700 Operating expenses 502,500 82,620 Profit from operations 345,720 106,080 Interest expense 6.430 1,252 Profit before income tax 339,290 104.828 Income tax expense 101.787 26,207 Profit $237,503 $78,621 Additional information: Average total assets $962,000 $318,563 Average total shareholders' equity 763,000 224,808 Using vertical analysis, calculate the percentage of the base amount of the income statement for each company. (Round answers to 1 decimal place, e.g. 12.5%.) PHAROAH AND FLOUNDER COMPANIES Income Statements Year Ended December 31, 2021 Calculate the gross profit margin, profit margin, asset turnover, return on assets, and return on equity ratios for 2021 for each company. (Round answers to 1 decimal place, e.g. 12.5 or 12.5%.) Pharoah Flounder Gross Profit Margin % % Profit Margin % % Asset Turnover times times % % Return on Assets % % Return on Equity