P5-45. Comparing Profitability Ratios for Competitors L03 Selected income statement data for Abbott Laboratories, BristolMyers Squibb Company, A Johnson & Johnson, GlaxoSmithKline plc, and Pfizer, Inc. is presented in the following table: Ab Bristol- Johnson Glaxo Abbott Myers Smith Laboratories Squibb Johnson Kline plc Bris ($ millions) Pfizer $11660 3,932 4,822 $35,872 11,418 Gla Sales revenue..................... $20,247 Cost of sales....................... 9,218 SG&A expense..................... 6,530 R&D expense. . . ................... 1345 Interest expense ................... 150 Net income 2,284 $74,331 22,746 21,954 8,494 13,466 5,379 $49,605 9,577 14,097 8,393 1,360 4,534 203 533 1,134 2,029 16,323 4,297 9168 REQUIRED a. Compute the profit margin (PM) and gross profit margin (GPM) ratios for each company. (As a British companyGlaxoSmithKline plc has a statutory tax rate of 26.5% in 2014. 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 C. Compare the relative profitability of these pharmaceutical companies