At the end of Year 5 the following information is available for Billings and Phoenix companies: Sales Cost of goods sold Operating expenses Total assets Stockholders' equity Billings Phoenix $3,000,000 $3,000 1,800,000 2,100 960,000 780 3,750,000 3,750 1,000,000 1,200 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 discounte Complete this question by entering your answers in the tabs below. Required A Required B Prepare common size income statements for each company. BILLINGS AND PHOENIX COMPANIES Common Size Income Statements For the Year Ended Year 5 Billings % Phoenix % 0 0 0 0 $ 0 0 $ 0 0 Required A Required B > At the end of Year 5 the following information is available for Billings and Phoenix companies: Sales Cost of goods sold Operating expenses Total assets Stockholders' equity Billings Phoenix $3,000,000 $3,000 1,800,000 2,100 960,000 780 3,750,000 3,750 1,000,000 1,200 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 One company is a high-end retailer, and the other operates a discount store. Which is the discounter? Which is the discounter?