The following information is available for the Memphis and Billings companies: Sales Cost of goods sold Operating expenses Total assets Stockholders' equity Memphis $1,032,600 698,800 274,900 1,260,000 310,000 Billings $1,051,800 781,800 231,000 1,180,000 390,000 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? 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 % 0.0 0.0 $ 0 0.0 $ 0.0 Required B > Required A Required B Required C Required D Compute the return on assets and return on equity for each company. (Round Memphis Company % % Billings Company % Return on assets Return on equity % Required A Required B Required C Required D which company is more profitable from the stockholders' perspective? Which company is more profitable from the stockholders' perspective? One company is a high-end retailer, and the other operates a discount store. Which is the discounter Which is the discounter?