The following income statements were drawn from the annual reports of the Atlanta Company and the Boston Company: Atlanta* $ 34,900 (15,020) 19,880 Boston* $ 88,600 (64,400) 24,200 Net sales Cost of goods sold Gross margin Less: Operating exp. Selling and admin. exp. Net income (11,440) $ 8,440 (13,694) $ 10,506 *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. One of the companies is a high-end retailer that operates in exclusive shopping malls. The other operates discount stores located in low-cost, standalone buildings. Ascertain which of the company is a high-end retailer based on ratios computed. b. If Atlanta and Boston have equity of $17,600 and $20,600, respectively, which company is in the more profitable business? Complete this question by entering your answers in the tabs below. Required A1 Required A2 Required B Compute the gross margin percentages and return-on-sales ratios of Atlanta and Boston. Atlanta Boston % % Gross margin percentages Return-on-sales ratios % % b. If Atlanta and Boston have equity of $17,600 and $20,600, respectively, which company is in the more profitable business? Complete this question by entering your answers in the tabs below. Required A1 Required A2 Required B One of the companies is a high-end retailer that operates in exclusive shopping malls. The other operates discount stores located in low-cost, standalone buildings. 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. Required A1 Required A2 Required B If Atlanta and Boston have equity of $17,600 and $20,600, respectively, which company is in the more profitable business? Which company is in the more profitable business