Please answer with working and calculations on paper.

2: Key comparative figures ($ millions) for both Zara and Next follow (25 Marks) Zara Next Zara Next Cash and equivalents ....... $ 108.6 $ 209.8 Income taxes $ 253.4 $ 12.5 Accounts receivable 1,6744 561.7 Revenues (Nike). 9,553.1 Inventories.... 1,396.6 563.7 Net sales (Reebok) 3,643.6 Retained earnings 3,043.4 1,145.3 Total assets 5,397.4 1,756.1 Costs of sales.... 6,065.5 2,294.0 Required: a. Compute common-size percents for both companies using the data provided. b. Which company incurs a higher percent of their revenues (net sales) in income taxes? c. Which company retains a higher portion of cumulative net income in the company? d. Which company has a higher gross margin ratio on sales? e. Which company holds a higher percent of its total assets as inventory