Compare Retro Pro Corp. and House Fitters Inc. (Click the icon to view the income statement information.) 1. Convert their income statements to common size. 2. Which company earns more net income? 3. Which company's net income is a higher percentage of its net sales? 1. Convert their income statements to common size. (Round all percentages to one decimal place, X.X%.) Retro Pro Corp. and House Fitters Inc. Common-Size Income Statements Net sales Cost of goods sold Other expenses Net income Retro Pro Corp. House Fitters Inc. % % 2. Which company earns more net income? earns more net income. 3. Which company's net income is a higher percentage of its net sales? net income is a higher percentage of net sales. Income statement information Net sales Cost of goods sold Other expenses Net income - (Amounts in thousands) Retro Pro Corp. House Fitters Inc. 25,000 $ 60,000 19,000 33,000 4,500 24,900 1,500 $ 2,100 Print Done