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Kent Company and Kleen Corporation are competitors (Click the icon to view the income statements.) Compare the two companies by converting their condensed income
Kent 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 eamed 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) Kent Not sales Cost of goods sold Selling and administrative expenses Interest expense Other expenses Income tax expense Net income Kleen Amount Percent Amount Percent S 14,500 $ 11,000 % Data table 8,642 % 7,458 4,002 2,244 % 87 % 44 (in millions) 44 % 22 Net sales 522 264 1,203 900 Kent $ Kleen 14,500 $ 11.000 Cost of goods sold Selling and administrative expenses Interest expense 0.642 7458 4.002 2.244 117 44 Other expenses 44 22 Income tax expense 522 204 $ 1.2005 Net income 068 Print Done
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