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fill in the empty blue cells. show all cell formulas/references for each one. Financial Statement Analysis Compare common-size income statements for two companies Madison Company
fill in the empty blue cells. show all cell formulas/references for each one. Financial Statement Analysis Compare common-size income statements for two companies Madison Company and Orwell Corporation are competitors. (In millions) Madison Orwell Net sales $ 17,000 $ 10,000 Cost of goods sold 10,166 6,540 Selling and administrative expenses 4,828 2,220 Interest expense 68 80 Other expenses 102 40 Income tax expense 748 320 Net income $ 1,088 $ 800 1. Compare the two companies by converting their condensed income statements to common-size statements. Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be marked wrong.) Madison Comp Orwell Net sales Cost of goods sold Gross profit Selling and administrative expenses Interest expense Other expenses Income tax expense Net income 1 Income tax expense 2 Net income 3 4 2. Which company earned more net income? Which company's net income was a higher percentage of its net sales? 5 6 Which company earned more net income? 7 8 Which company's net income was a higher percentage of its net sales? 9 C
fill in the empty blue cells. show all cell formulas/references for each one.
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