The following income statements were drawn from the annual reports of the Atlanta Company and the Boston Company Atlanta* Boston* 32,500 86,800 62,550 24,250 Net sales Cost of goods sold Gross margin Less: Operating exp. Selling and admin. exp. Net income 17,180 15,320 (11,560) (20,450) $ 3,760 3,800 All figures are reported in thousands of dollars. Required a-1. Compute the gross margin percentages and return-on-sales ratios of Atlanta and Boston. (Round your answers to the nearest whole number.) a-2. Ascertain which of the company is a high-end retailer based on ratios computed. b. If Atlanta and Boston have equity of $16,400 and $19,000, respectively, which company is in the more profitable business? Complete this question by entering your answers in the tabs below. Req A2 Req B Req A1 Compute the gross margin percentages and return-on-sales ratios of Atlanta and Boston. Atlanta Boston Gross margin percentages ratios