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Bigmart Inc. and Sal Ltd. are competitors. Compare the two companies by converting their condensed income statements to common size. E (Click the icon to view the income statements.) Which company earned more net income? Which company's net income was a higher percentage of its net sales? Which company is more profitable? Explain your answer. Begin by converting the condensed income statements to common size. (Round your answers to two decimal places, X.XX%.) (In millions) Bigmart Sal Amount Percent Amount Percent 9,700 Net sales $ % $ 19,200 % % 5,715 14.108 Cost of goods sold Selling and administrative expenses Interest expense 2,610 3,300 57 18 Other expense 36 40 338 Income tax expense 595 $ 944 1,139 Net income % % earned more net income. V could be more profitable because it earned far more net income than m could be more profitable because it earned a higher percentage of profit on each dollar of sales net income was a higher percentage of net sales. did. than - X Data table Sal 19,200 14.108 3,300 (In millions) Bigmart Net sales S 9,700 $ Cost of goods sold 5,715 Selling and administrative expenses .. 2,610 Interest expense 57 Other expense 36 338 Income tax expense $ 944 $ Net income 18 40 595 1,139 Print Done