The following financial data pertains to Apple Inc. and Samsung Electronics for the fiscal year 2023:

($ millions)	Apple Inc.	Samsung Electronics
Net sales	$300,000	$250,000
Cost of sales	120,000	150,000
Gross profit	180,000	100,000
Operating expenses:
Selling, general, and administrative	60,000	50,000
Research and development	20,000	25,000
Operating income	100,000	25,000
Interest and other (income) expense	5,000	3,000
Interest and investment income	(2,000)	(1,000)
Earnings before provision for income taxes	97,000	23,000
Provision for income taxes	24,000	7,000
Net earnings	$73,000	$16,000

Required: a. Compute the return on equity (ROE), return on assets (ROA), and return on financial leverage (ROFL) for Apple Inc. and Samsung Electronics. Assume a tax rate of 25%. b. Break down the ROA into profit margin (PM) and asset turnover (AT) for both companies. Identify the primary drivers of their ROA. c. Assess the trend in net earnings over the past five years. What does it indicate about the overall financial health of the companies? d. Evaluate the debt-to-equity ratio for Apple Inc. and Samsung Electronics. What does it imply about their financial risk and leverage? e. Compare the research and development (R&D) expenses as a percentage of sales for Apple Inc. and Samsung Electronics. What can be inferred about their investment in innovation?