The following information is available for the Memphis and Billings companies, Memphis Billings Sales $ 1,296,680 $ 1,256, 720 Cost of goods sold 840,840 916,840 Operating expenses 347,920 282,940 Total assets 1,180,000 1,380,000 Stockholders' equity 380,000 390,000 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. u. Une company is a higienu reales, and te vuler upeides d 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 0 0.0 0 0.0 0 0.0 $ 0 0.0 (Required A Required B > 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 Return on assets Return on equity Memphis Company % % Billings Company % % Complete this question by entering your answers in the tabs below. Required A Required B Required 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 Required D One company is a high-end retailer, and the other operates a discount store. Which is the discounter? Which is the discounter?