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Dollar Tree Stores, Inc., and Dollar General Corporation are both discount retailers. As their adapted income statements (in $ millions) show, Dollar General's sales revenue
Dollar Tree Stores, Inc., and Dollar General Corporation are both discount retailers. As their adapted income statements (in $ millions) show, Dollar General's sales revenue was more than double that of Dollar Tree. Dollar Dollar Tree General $6,630.5 $14,807.2 Sales 10,109.3 Cost of goods sold 4,252.2 Gross profit 4,697.9 2,378.3 Selling, general, & administrative expenses 1,596.2 3,207.1 Net operating income 782.1 1,490.8 Other expense 2.6 265.5 Income before taxes 779,5 1,225.3 Income tax expense 291.2 458.6 $766.7 Net income $488.3 (a) Prepare a common-size income statement for each company. (Round answers to 1 decimal place, e.g. 50.1%.) Dollar Tree Dollar General Sales Cost of goods sold Gross profit Selling, general & administrative expenses Net operating income Other expense Income before taxes Income tax expense Net income
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