Price-Break and Low-Cost are both discount store chains. Condensed income statements and balance…

Price-Break and Low-Cost are both discount store chains. Condensed income statements and balance sheets for the two companies are shown in Exhibit. Amounts are in thousands. Required 1. Prepare common-size statements for Price-Break and Low-Cost for 20X9. 2. Compare the financial performance for 20X9 and financial position at the end of 20X9 for Price-Break with the performance and position of Low-Cost. Use only the statements prepared in requirement 1. 3. Calculate and compare ROE for the twofirms.