The following income statements were drawn from the annual reports of the Atlanta Company and the Boston Company. Net sales Cost of goods sold Gross margin Less: Operating expenses Selling and administrative expenses Net income Boston Atlanta $ 33,200 $ 89,300 (16,820) 16,380 (63,290) 26,010 (20,036) (11,260) $ 5,128 $ 5,974 "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. a-2. Ascertain which of the companies is a high-end retailer based on ratios computed. b. If Atlanta and Boston have equity of $16,200 and $20,600, respectively, which company is in the more profitable business? Complete this question by entering your answers in the tabs below. Req A1 Req A2 Req B Compute the gross margin percentages and return-on-sales ratios of Atlanta and Boston. (Round your answers to the nearest whole number.) Atlanta Boston Gross margin percentages Retum-on-sales ratios 49 % 29% 15% 6%