Exercise 4-19A (Algo) Using common size statements and ratios to make comparisons LO 4-8 The following information is available for the Memphis and Billings companies: 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? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Prepare a common size income statement for each company. Note: Round percentage answers to 1 decimal place. Exercise 4-19A (Algo) Using common size statements and ratios to make comparisons LO 4-8 The following information is available for the Memphis and Billings companies: 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? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Compute the return on assets and return on equity for each company. Note: Round your answers to 1 decimal place