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At the end of Year 5 the following information is available for Billings and Phoenix companies: Sales Cost of goods sold Billings $1,154,000 Phoenix
At the end of Year 5 the following information is available for Billings and Phoenix companies: Sales Cost of goods sold Billings $1,154,000 Phoenix $1,124,400 768,000 852,000 Operating expenses Total assets 306,000 229,700 1,460,000 1,440,000 Stockholders' equity 320,000 350,000 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.
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