The following information is available for the Memphis and Billings companies: Sales Cost of goods sold Operating expenses Total assets Stockholders' equity Memphis $1,500,000 1,050,000 350,000 1,800,000 720,000 Billings $1,500,000 1,125,000 250,000 1,800,000 720,000 Required a. Prepare a common size income statement for each company. b. Compute the return on assets and return on equity for each company. c. Which company is more profitable from the stockholders' perspective? d. One company is a high-end retailer, and the other operates a discount store. Which is the discounter? Required A Required B Required C Required D Prepare a common size income statement for each company. (Round percentage answers to MEMPHIS COMPANY AND BILLINGS COMPANY Common Size Income Statements Memphis % Billings es % Required A Required B Required C Required D ook Compute the return on assets and return on equity for each company. (Round your ans nt int Memphis Company % Billings Company % rences Return on assets Return on equity % % Required A Required B Recluired Required D Which company is more profitable from the stockholders' perspective? Which company is more profitable from the stockholders' perspective? Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D One company is a high-end retailer, and the other operates a discount store. Which is the discounter