The following income statements were drawn from the annual reports of the Atlanta Company and the Boston Company. Atlanta $ 32,400 (16,550) 15,850 Boston $ 89,100 (62,990) 26,110 Net sales Cost of goods sold Gross margin Less: Operating expenses Selling and administrative expenses Net income (11,820) $ 4,030 *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? (21,578) $ 4,532