1. Pine Forest Logging and Maple Grove Timber reported the following for 2023:

Pine Forest Logging:

• Revenue: $230 million
• COGS: $138 million
• Operating Expenses: $100 million
• Net Income: -$8 million
• Total Assets: $250 million
• Total Liabilities: $120 million

Maple Grove Timber:

• Revenue: $225 million
• COGS: $130 million
• Operating Expenses: $102 million
• Net Income: -$7 million
• Total Assets: $245 million
• Total Liabilities: $125 million

Compare the gross profit margins of both companies. Calculate the operating profit margins. Determine which company has a better debt-to-equity ratio.