At the end of 2018 the following information is available for Billings and Phoneix companies: Sales Cost of goods sold Operating expenses Total assets Stockholders' equity Billings $1,043,400 697,200 291,600 1,360,000 390,000 Phoneix $1,285,200 775,200 393,000 1,400,000 390,000 Required a. Prepare common size income statements for each company. b. One company is a high-end retailer, and the other operates a discount store. Which is the discounter? Complete this question by entering your answers in the tabs below. Required A Required B Prepare common size income statements for each company. (Round your percentage answers to 1 decimal place.) BILLINGS AND PHONEIX COMPANIES Common Size Income Statements For the Year Ended 2018 Billings % Phoneix Nout