Comparing Ratios for Luxury and Budget Retailers Following are selected financial statement data from Capri Holdings (a retailer that owns upscale brands Michael Kors, Jimmy Choo, and Versace) and Five Below (a value-priced toy and novelty retailer). Capri Holdings Five Below ($ millions) ($ thousands) 2018 2017 2018 2017 Sales Cost of sales Net $4,860.2 $4,628.5 $1,606,350 $1,316,554 1,840.7 1,814.0 984,533 806,647 income Average 586.2 546.0 148,149 101,426 equity 1,859.2 1,847.8 552,931 406,831 Required a. Calculate the gross profit for each company for both years. Gross profit is equal to sales minus the cost of sales. b. Calculate gross profit as a percentage of sales for each company for both years. c. Compute the return on equity for each company for both years. Notes: For gross profit, enter Capri Holdings in Support