The ratio of costs to revenues can indicate opportunities for activity-based costing to increase efficiency and reduce costs. Refer to Apple’s and Google’s 2017 income statements in Appendix A to answer the following. Required:1. For Apple, compute the ratio of costs (titled as cost of sales plus operating expenses) to net sales for 2017.2. For Google, compute the ratio of costs (titled as total costs and expenses) to revenues for 2017.3. Which company has the higher ratio of costs to revenues for 2017?