iTheOr Inc. As part of a competition analysis exercise you have obtained the following information with regard to two different multinational Corporations , Miserare Inc. (MI) and Pietas Inc. MI PI Turnover '000 7,010 '000 12,294 Manufacturing expenses: Direct labour Materials consumed Depreciation Plant hire Factory overhead Selling administrative expenses Interest '000 962 2,760 544 84 488 720 120 5,678 '000 1,248 5,202 900 254 760 1,050 560 9,974 Profit before taxation Taxation Retained profit 1,332 610 722 2,320 820 1,500 5,270 6,390 4,036 Fixed assets (NBV) Current assets Current liabilities Equity capital Long Term Loans Average number of employees 7,938 4,700 3,364 5,274 4,000 238 6,624 1,000 190 Just to be more complete in your study you have obtained some additional industry averages for the light engineering sector as follows: Pre tax return on capital employed Pre tax profit to sales Asset turnover Current ratio Capital gearing/Leverage (fixed interest capital/total capital) Value added per employee 19% 21% 0.9 1.7 28% 23,500 Your assignment is to evaluate the performance of the two companies and present your results to the board