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? Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Prepare common size income statements for each company. (Round your percentage answers to 1 decimal place.) BILLINGS AND PHONEIX COMPANIES Common Size Income Statements For the Year Ended 2018 Billings % Phoneix Gross margin 0 0.0 0 0.0 Net income $ lo 0.0 $ 0 0.0 5 A Saved At the end of 2018 the following information is available for Billings and Phoneix companies: Sales Cost of goods sold Operating expenses Total assets Stockholders' equity Billings $1,296,680 840,840 347,920 1,180,000 380,000 Phoneix $1,256,720 916,840 282,940 1,380,000 390,000 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? es Complete this question by entering your answers in the tabs below. Required A Required B Prepare common size income statements for each company. (Round your percentage answers to 1 decimal place.) BILLINGS AND PHONEIX COMPANIES Common Size Income Statements For the Year Ended 2018 Billings % Phoneix % Gross margin 0 0.0 0 0.0 Net income $ 0 0.0 $ 0 0.0