The following table provides selected financial information for Johnson Controls International and Honeywell International Inc. for the fiscal year 2023:

($ millions)	Johnson Controls International	Honeywell International Inc.
Net sales	$44,287	$38,837
Cost of sales	28,976	23,571
Gross profit	15,311	15,266
Operating expenses:
Selling, general, and administrative	8,217	7,184
Research and development	2,874	2,693
Operating income	4,220	5,389
Interest and other (income) expense	1,213	984
Interest and investment income	(395)	(314)
Earnings before provision for income taxes	3,402	4,719
Provision for income taxes	816	1,141
Net earnings	$2,586	$3,578

Required: a. Calculate the return on equity (ROE), return on assets (ROA), and return on financial leverage (ROFL) for Johnson Controls International and Honeywell International Inc. Assume a tax rate of 28%. b. Disaggregate the ROA into profit margin (PM) and asset turnover (AT) for both companies. Discuss the primary factors influencing their ROA. c. Analyze the trend in gross profit margins over the past five years. What does it indicate about the companies' production efficiency and cost management? d. Evaluate the current ratio and quick ratio for Johnson Controls International and Honeywell International Inc. What does it reveal about their short-term liquidity? e. Compare the operating profit margins of Johnson Controls International and Honeywell International Inc. What insights can be drawn about their cost control and profitability?