The following income statements were drawn from the annual reports of the Atlanta Company and the Boston Company: Atlanta* $ 32,700 (16,120) 16,580 Boston* $ 89,000 (63,680) 25,320 Net sales Cost of goods sold Gross margin Less: Operating exp. Selling and admin. exp. Net income (12, 840) $ 3,740 (20,876) $ 4,444 *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 $17,800 and $20,200, 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. Atlanta Boston Gross margin percentages Return-on-sales ratios Complete this question by entering your answers in the tabs below. Req A1 Req A2 Req B Ascertain which of the company is a high-end retailer based on ratios computed. Ascertain which of the company is a high-end retailer based on ratios computed. Complete this question by entering your answers in the tabs below. Req A1 Req A2 Req B If Atlanta and Boston have equity of $17,800 and $20,200, respectively, which company is in the more profitable business? Which company is in the more profitable business?