Craft, Inc., and Kleen Corporation are competitors. Compare the two companies by converting their condensed income statements to common size.

Which company earned more net income? Which company€™s net income was a higher percentage of its net sales? Explain youranswer.

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(In millions) Net Cost of goods sold Selling and administrative expenses Interest expense Other ex Income tax expense Net inco Craft Kleen $17800 $7,569 4,965 1,521 23 38 250 $ 772 10,573 4,895 53 89 730 S 1,460