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At the end of Year 5 the following information is available for Billings and Phoenix companies: Billings Sales $ 932,000 Phoenix $1,196,040 Cost of
At the end of Year 5 the following information is available for Billings and Phoenix companies: Billings Sales $ 932,000 Phoenix $1,196,040 Cost of goods sold 649,000 725,000 Operating expenses Total assets 248,000 374,520 1,220,000 1,210,000 57 Stockholders' equity 350,000 380,000 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?
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