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 $ 928,000 641,000 231,000 1,350,000 321,000 Phoenix $ 1,124,240 Required A Required B 726,000 327,620 1,460,000 311,000 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. Prepare common size income statements for each company. Note: Round your percentage answers to 1 decimal place. BILLINGS AND PHOENIX COMPANIES

At the end of Year 5 the following information is available for Billings and Phoenix companies: 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. Prepare common size income statements for each company. Note: Round your percentage answers to 1 decimal place