Comparing Income Statements and Balance Sheets of Competitors ISACTIONS Following are selected income statement and balance sheet data from two retailers: Abercrombie & Fitch (clothing retailer in the high-end market) and TJX Companies (clothing retailer in the value-priced market). (a) Express each income statement amount as a percentage of sales. Round your answers to one decimal place (ex: 0.2345 = 23.5%). Income Statement ($ millions) Sales ANF $5,360 TJX $22,106 Cost of goods sold 1,808 % 17,713 % Gross profit 3,552 % 4,393 % Total expenses 2,635 % 3,495 % Net income $ 917 % $ 898 % (b) Express each balance sheet amount as a percentage of total assets. Round your answers to one decimal place (ex: 0.2345 = 23.5%). ($ millions) Balance Sheet ANF TJX Current assets $1,000 % $3,929 % Long-term assets 1,637 % 2,608 % Total assets $2,637 $6,537 Current liabilities $ 513 % $2,698 % Long-term liabilities 406 % 1,708 % Total liabilities 919 % 4,406 % Stockholders' equity 1,718 % 2,131 % Total liabilities and equity $2,637 $6,537