Report for two sponsors on one project

I would like to make report for two sponsors: Each of them want to see only a Cash flow (Budgeted Expense Cost and Actual Expense Cost) that is related to him/her.
It is possible to do something similar in two ways:
1. Activity Usage Spreadsheet - Spreadsheet Fields - Time interval - Cost - Budgeted Expense Cost and Actual Expense Cost
2. Activity Usage Profile - Activity Usage Profile Options: Filter by bars/curver (Expenses); Show Bars/Curves (Budgeted and Actual)
while Timescale: Show primary Dates (Type - Calendar; Date interval - Quarter/Months).
But in both way Expenses are grouped together and it is not possible to differentiate who is financing what.
Thanks!

Yes, we are only replacing image files. So--since no one here
is familiar with merge-- if we do as you suggest using Windows
Explorer, the steps will be:
1) One writer works on his/her computer's local drive and the
other writer works on his/her computer 's local drive (no shared
drive).
2) Each writer creates an Image folder on his/her computer's
local drive
3) Each writer captures (Snag-it) images from the
application, opens the captured image in Photoshop and sizes the
new image file to match the size and width, border, etc parameters
of the image in the current Help's HTML code. (writer will have to
view HTML code to get image size)
4) Each writer will copy the new image files into his/her
local drive-based Image folder--giving the new image the same name
as the image that is being replaced).
5) The image files in the first writer's Image folder are
then copied to the Image other writer's Image folder.
6) The new Image folder containing all the new image files is
copied into the RoboHelp source directory, overwriting the old
Image folder.
7) The writer with the new Image folder (containing all the
new images) then generates and publishers the RoboHelp project.
Is this correct?

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