Comparative income statement data for Sandhill Inc. and Monty Ltd., two competitors, are shown below for the year ended December 31, 2021. Net sales Cost of goods sold Gross profit Operating expenses Profit from operations Interest expense Profit before income tax Income tax expense Profit Sandhill $1,770,000 1,005,360 764,640 460,200 304,440 6,070 298,370 89,511 $208,859 Monty $506,000 311,190 194,810 78,936 115,874 1,252 114,622 28,656 $85,966 Additional information: Average total assets Average total shareholders' equity $927,000 782,000 $283,563 243,808 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%.) SANDHILL AND MONTY COMPANIES Income Statements Sandhill Percent Monty Percent Net sales % % Cost of goods sold % % Gross profit Operating expenses % Profit from operations % % Interest expense % % Profit before income tax % Income tax expense % % Profit % % 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%.) Sandhill Monty Gross Profit Margin % % Profit Margin % Asset Turnover times times Return on Assets % % Return on Equity % % e Textbook and Media