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At the end of Year 5 the following information is available for Billings and Phoenix companies: Billings Phoenix Sales $ 1,212,000 $ 1,150,640 Cost of

At the end of Year 5 the following information is available for Billings and Phoenix companies: Billings Phoenix Sales $ 1,212,000 $ 1,150,640 Cost of goods sold 800,000 878,000 Operating expenses 336,000 229,320 Total assets 1,440,000 1,330,000 Stockholders equity 380,000 380,000 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

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