Question 5: please explain the following question:

Comparing Income Statements and Balance Sheets of Competitors Following are selected income statement and balance sheet data from two retailers: Abercrombie & Fitch (clothing in the high-end market) and TJX Companies (clothing retailer in the value priced market), for the fiscal year ended January 30, 2016. (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 ($ thousands) ANF TJX Sales $3,518,680 $30,944,938 Cost of goods sold 1,361,137 22,034,523 Gross profit 2,157,543 8,910,415 Total expenses 2,121,967 6,632,757 Net income $ 35,576 $2,277,658 (b) Express each balance sheet amount as a percentage of total assets. Round your answers to one decimal place (ex: 0.2345 = 23.5%). Balance Sheet ($ thousands) ANF TJX Current assets $1,178,980 $6,772,560 Long-term assets 1,254,059 4,726,922 Total assets $2,433,039 $11,499,482 Current liabilities $534,703 $4,402,230 Long-term liabilities 602,614 2,790,177 Total liabilities 1,137,317 7,192,407 Stockholders' equity 1,295,722 4,307,075 Total liabilities and equity $2,433,039 $11,499,482