Comparing Profitability Ratios for Competitors Selected income statement data for Abbott Laboratories, Bristol-Myers Squibb Company, Johnson & Johnson, GlaxoSmithKline plc, and Pfizer, Inc. is presented in the following table: Bristol- Johnson Glaxo Abbott Myers & Smith ($ millions) Laboratories Squibb Johnson Kline plc Pfizer Sales revenue $27,390 $19,258 $76,450 30,186 $52,546 Cost of sales 12.337 6.066 25.354 10,342 11,240 SG&A expense 9,117 4,687 21,420 9,672 14,784 R&D expense 2,235 6,411 10,554 4,476 7,657 Interest expense 904 196 934 734 1,270 Net income 477 975 1,300 2.169 21,355 Required a. Compute the profit margin (PM) and gross profit margin (GPM) ratios for each company. (As a British company, GlaxoSmithKline plc has a statutory tax rate of 19.25% in 2017 assume a statutory rate of 35% for all other companies.) (Round your answers to one decimal place.) Bristol Johnson Glaxo Abbott Myers Smith Laboratories Squibb Johnson Kline plc Pfizer PM 55 % 68.5 % 66 % 66 % 78.6 % GPM 55 % 0 % 0 % 0 % 0 % b. Compute the research and development (R&D) expense to sales ratio and the selling, general and administrative (SG&A) expense to sales ratio for each company. (Round your answers to one decimal place.) Bristol Johnson Glaxo Abbott Myers Smith Laboratories Squibb Johnson Kline plc Pfizer R&D ETS 0 % 0 % 0 % 0 % 0 % SG&A ETS 0 % 0 % 0 % 0 % 0 %