Compare Income Statements and Balance Sheets of Competitors a. Following are selected income statement data for two communications companies, Comcast and Verizon, for the year ended December 31, 2018. Express each income statement amount as a percentage of sales. Note: Round percentage to one decimal point (for example, round 18.566% to 18.6%). Income Statement ($ millions) Comcast Verizon Sales $88,837 Answer 100 $123,011 Answer 100 Operating costs 75,498 Answer 108,585 Answer Operating profit 13,339 Answer 14,426 Answer Nonoperating expenses 6,718 Answer 5,865 Answer Net income $6,621 Answer $8,561 Answer b. Following are selected balance sheet data for two communications companies, Comcast and Verizon, for the year ended December 31, 2018. Express each balance sheet amount as a percentage of total assets. Note: Round percentage to one decimal point (for example, round 18.566% to 18.6%). Balance Sheet ($ millions) Comcast Verizon Current assets $20,537 Answer 8.2 $32,558 Answer Long-term assets 229,836 Answer 230,193 Answer Total assets $250,373 Answer $262,751 Answer Current liabilities $25,947 Answer $35,654 Answer Long-term liabilities 142,484 Answer 161,858 Answer Total liabilities $168,431 Answer $197,512 Answer Stockholders equity* 81,942 Answer 32.7 65,239 Answer 24.8 Total liabilities and equity $250,373 Answer 100 $262,751 Answer 100