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Dollar Tree Stores, Inc. , and Dollar General Corporation are both discount retailers. As their adapted income statements (in $ millions) show, Dollar Generals sales

Dollar Tree Stores, Inc., and Dollar General Corporation are both discount retailers. As their adapted income statements (in $ millions) show, Dollar Generals sales revenue was more than double that of Dollar Tree.

Dollar Tree Dollar General
Sales $6,630.5 $14,807.2
Cost of goods sold 4,252.2 10,109.3
Gross profit 2,378.3 4,697.9
Selling, general, & administrative expenses 1,596.2 3,207.1
Net operating income 782.1 1,490.8
Other expense 2.6 265.5
Income before taxes 779.5 1,225.3
Income tax expense 291.2 458.6
Net income $488.3 $766.7

Prepare a common-size income statement for each company. (Round answers to 2 decimal places, e.g. 50.12%.)

Dollar Tree Dollar General
Sales % %
Cost of goods sold % %
Gross profit % %
Selling, general & administrative expenses % %
Net operating income % %
Other expense % %
Income before taxes % %
Income tax expense % %
Net income %

%

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