The following income statements were drawn from the annual reports of Baird and Apex Companies for 2016: famounts in thousands) Net sales Cost of goods sold Baird Co. Apex Co. $32,600 $86,200 17,930 64,650 $14,670 $21.550 13,040 Gross margin Less: Operating and selling and admin expenses 18.960 $1,630 $2,590 Net Income The balance sheet for Baird shows equity of $16,200 and the balance sheet for Apex shows equity of $20,400 If we know that one of the companies is a high-end retailer and the other is a discount store, which of the following statements most correctly characterizes the two companies? Multiple Choice Baird has a higher return on equity and is more profitable Apex is more likely high end retailer Brust is making up the price of merchandise by a greater percentage than Baird O Baird is more rely ogiesdretaller because ning up the price of merchandise by a greater percentage than Apex Apex has a higher return coses, which means it cannot be discount store