Kingston Inc. and Jasmine Ltd are competitors Compare the too companies by converting their condensed income statements to common size (Click the icon to view the locome statements) Which company earned more net income? Which company's net income was a higher percentage of its net sales? Which company is more profitable? Explain your answer. begin by converting the condensed income statements to common size (Round your answers to two decimal places, XXX%) wwww In millions) Net sales Cost of goods sold Selling and administrative expenses Other expense Net income Kingston Jasmine Amount Percent Amount Percent S 10,1601 $ 19.300 6,735 14.102 2.620 3.200 st 19 36 40 334 1,310 559 1.3401 could be more profitable because I eamed fat more not income than earned more net income net income was a higher percentage of net sales could be more profitable because it earned a higher percentage of profit on each dollar of sales than dd