The following information is available for the Memphis and Billings companies: Sales Cost of goods sold Operating expenses Total assets Stockholders' equity Memphis $1,117,000 746,000 314,000 1,280,000 380,000 Billings $1,096,000 823,000 231,000 1,350,000 350,000 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 1 decimal place.) MEMPHIS COMPANY AND BILLINGS COMPANY Common Size Income Statements Memphis % Billings % 0 0.0 0 0.0 $ 0 0.0 $ 0 0.0 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 % %