At the end of Year $5$ the following information is available for Billings and Phoenix companies:

Billings Phoenix

Sales $ $3,000,000$ $ $3,000$

Cost of goods sold $1,800,0002,100$

Operating expenses $960,000780$

Total assets $3,750,0003,750$

Stockholders$$ equity $1,000,0001,200$

Required:

Prepare common size income statements for each company.

One company is a high$-$end retailer, and the other operates a discount store. Which is the discounter?