Comparing Profitability Ratios for Competitors Selected income statement data for Abbott Laboratories, Bristol-Myers Squibb Company, Johnson & Johnson, GlaxoSmithKline plc, and Pfizer, Inc. is presented in the following table: Bristol- Johnson Glaxo Abbott Myers & Smith ($ millions) Laboratories Squibb Johnson Kline plc Pfizer Sales revenue $39,001 $21,394 $65,280 27,537 $67,675 Cost of sales 15,541 5,598 20,360 7,332 15,085 SG&A expense 12,757 5,160 20,969 8,826 19,468 R&D expense 4,129 3,839 7,548 4,009 9,112 Interest expense 530 145 571 799 1,681 Net income 4,728 5,260 9,672 5,458 10,051 Required a. Compute the profit margin (PM) and gross profit margin (GPM) ratios for each company. (As a British company, GlaxoSmithKline plc has a statutory tax rate of 26.5% in 2014; assume a statutory rate of 35% for all other companies.) (Round your answers to one decimal place.) Abbott Laboratories Bristol- Myers Squibb % Johnson & Johnson Glaxo Smith Kline plc Pfizer PM % % % % GPM 60.2 % 73.8 % 68.8 % 73.4 % 77.7 %