Comparing Operating Characteristics Across Industries Following are selected income statement and balance sheet data for companies in different industries. (a) Compute the following ratios for each company. - Round all answers to one decimal place (percentage answer example: 0.2345=23.5% ). - Note: The liabilities to stockholders' equity ratio should not be converted into a percentage answer (round answers to one decimal place, for example: 0.452=0.5 ). (b) Which of the following statements about business models best describes the differences in gross (and net) profit margin that we observe? The higher gross profit companies are typically those that have some competitive advantage that allows them to charge a market price for their products that cannot be easily competed away. The lower gross profit companies are those that can manufacture their products at the lowest cost. The higher gross profit companies are those that sell the highest unit volumes. The lower gross profit companies are those that charge a higher price for their products