Canton Company and Joanna Corporation are competitors. (Click the icon to view the income statements.) 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) Canton Joanna Amount Percent Amount Percent $ 19,500 Net sales % $ 6,500 % Cost of goods sold 11,427 % 4,264 % Selling and administrative expenses 5,304 % 741 % Interest expense 156 % 13 % Other expenses 39 % 13 % Income tax expense 741 % 234 % $ 1,833 $ 1,235 Net income % % $ (In millions) Canton Joanna 19,500 $ 6,500 $ 4,264 11,427 5,304 741 Net sales Cost of goods sold Selling and administrative expenses Interest expense Other expenses Income tax expense 156 13 39 13 234 741 $ 1,833 $ 1,235 Net income