PSA12.1 Here are comparative statement data for Spencer Ltd and Forrestert.com All data relating to the statement of financial position are as at 30 June, the end of the reporting period for both entities. SPENCER LTD 2016 2015 FORRESTER LTD 2016 2015 Net sales $ 1 250 000 $ 410 000 Cost of sales 690 000 257000 Operating expenses 321 000 62 000 Finance costs 6 000 1 200 Income tax expense 69 900 26 940 Profit 163 100 62 860 Current assets 325 975 $ 312 410 188 000 S 180 000 Non-current assets 521 310 500 000 240 000 216 000 Current liabilities 79 595 75 815 36000 32 000 Non-current liabilities 108 500 90 000 27000 24 000 Share capital, $10 each 500 000 500 000 320 000 300 000 Retained earnings 159 190 146 595 45 000 40 000 Required Comment on the relative profitability of the entities (2 comments) by calculating the profit margin, return on assets and the asset turnover for both entities