Compare the two companies by converting their condensed income statements to common-size statements. Which company...
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Compare the two companies by converting their condensed income statements to common-size statements. Which company earned more net income? Which company's net income was a higher percentage of its net sales? Explain your answer. Begin by converting the condensed income statements to common size. (Round your answers to the nearest one-tenth of a percent, X.X%. Do not enter the % symbol in any of the input fields.) (In millions) Clearview Jakes Data table Percent Amount Percent Amount $ 20,000 S % 10,000 Net sales % 11,760 % % 6,560 2,040 Cost of goods sold Selling and administrative expenses (In millions) Clearview Jakes 5,760 % % $ Net sales 20,000 $ 10.000 Interest expense 120 % 60 % 11,760 6,560 Other expenses 140 % 20 % Cost of goods sold Selling and administrative expenses 5,760 2,040 760 360 Income tax expense % % Interest expense 120 60 $ 1,460 $ 960 Net income % % Other expenses 140 20 760 360 Income tax expense $ 1,460 $ 960 Net income Print Done
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