The following income statements were drawn from the annual reports of the Atlanta Company and the Boston Company: Atlanta* $ 32,100 (17,670) 14,430 Boston* $ 86,400 (63,630) 22,770 Net sales Cost of goods sold Gross margin Less: Operating exp. Selling and admin. exp. Net income (11,720) $ 2,710 (19,336) $ 3,434 *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 $15,400 and $20,200, respectively, which company is in the more profitable business? 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 % % 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. Req A1 Req A2 Req B. If Atlanta and Boston have equity of $15,400 and $20,200, respectively, which company is in the more profitable business? Which company is in the more profitable business? DocA