The following information is available for the Memphis and Billings companies: Sales Cost of goods sold Operating expenses Total assets Stockholders' equity Memphis $1,043,400 697,200 291,600 1,360,000 390,000 Billings $1,285,200 775,200 393,000 1,400,000 390,000 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? Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Prepare a common size income statement for each company. (Round percentage answers to 1 decimal place.) MEMPHIS COMPANY AND BILLINGS COMPANY Common Size Income Statements Memphis % Billings % Sales 0 0 0. 0 0.0 Cost of goods sold Gross margin Operating expenses Net income $ 0 0.0 $ 0 0.0 The following information is available for the Memphis and Billings companies: Sales Cost of goods sold Operating expenses Total assets Stockholders' equity Memphis $1,043, 400 697,200 291,600 1,360,000 390,000 Billings $1,285,200 775,200 393,000 1,400,000 390,000 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? Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Compute the return on assets and return on equity for each company. (Round your answers to 1 decimal place.) Memphis Company % Billings Company Return on assets Return on equity %