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Clementine Company and Kleen Corporation are competitors. (Click the icon to view the income statements.) Compare the two companies by converting their condensed income

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Clementine Company and Kleen 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, XX%. Do not enter the % symbol in any of the input fields.) (In millions) Clementine Kleen Amount Percent Amount Percent $ 15,500 Net sales. Cost of goods sold Selling and administrative expenses Interest expense % $ 11,000 % 9,238 % 7,260 % 4,278 % 2,244 93 66 Other expenses 62 % 88 de de de % 682 286 Income tax expense % $ 1,147 $ 1,056 Net income Data table (In millions) Net sales Cost of goods sold Selling and administrative expenses Interest expense Other expenses Income tax expense Net income - Clementine Kleen $ 15,500 $ 11,000 9,238 7,260 4,278 2,244 93 66 62 88 682 286 69 $ 1,147 $ 1,056 Print Done

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