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J: Compare comman-size income statements of two companies) Craft, Inc.. and Kleen Corporation are competitors. Compare the two companies by converting their condensed income statements
J: Compare comman-size income statements of two companies) Craft, Inc.. and Kleen Corporation are competitors. Compare the two companies by converting their condensed income statements to common size. In millions) Craft Kleen Net sales $17800 $7.569 Cost of goods sold 10,573 4,965 Selling and administrative expenses 4,895 1,521 Interest expense 53 23 Other expenses 89 38 Income tax expense Net income S 1,460 S 772 Which company earned more net income? Which company's net income was a higher percentage of its net sales? Explain your
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