Dollar Tree Stores, Inc., and Dollar General Corporation are both discount retailers. As theiradapte
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Dollar Tree Stores, Inc., and Dollar General Corporation are both discount retailers. As theiradapted income statements (in $ millions) show, Dollar General’s sales revenue was more thandouble that of Dollar Tree.Dollar TreeSalesDollarGeneral$6,630.5$14,807.2Cost of goods sold4,252.210,109.3Gross profit2,378.34,697.9Selling, general, & administrative expenses1,596.23,207.1782.11,490.82.6265.5Income before taxes779.51,225.3Income tax expense291.2458.6$488.3$766.7Net operating incomeOther expenseNet incomePrepare a common-size income statement for each company. (Round answers to 2 decimalplaces, e.g. 50.12%.)Dollar TreeSalesCost of goods soldGross profitSelling, general & administrativeexpensesNet operating incomeOther expenseIncome before taxesIncome tax expenseNet incomeDollarGeneral%%%%%%%%%%%%%%%%%%
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