mpetitors densed incone stak 1z statements. Which company earned more net income? Whi 1,388 5,304 Data Table 156 702 (In millions) Clearview Louisa 1,891 Net sales 19,500 $ 9,000 Cost of goods sold 11,388 5,904 mpany's net ind Selling and administrative expenses 5,304 1,026 as a net income Interest expense 156 72 rns a Other expenses 59 72 Income tax expense 702 234 hue to the next S 1,891 $ 1,692 Net income 59 On Hep Clearview Company and Louisa Corporation are competitors iIClick the icon to view the income statemeents.) Compare the two companies by converting their condensed income statements to common-size statements. Which company eamed more net income? Which company's netocome 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%) Clearview (In millions) Louisa Amount Percent Amount Percent 19.500 9.000 Net sales % Cost of goods sold 5,904 11.388 Selling and administrative expenses 1.026 5,304 Interest expense 156 72 Other expenses 59 72 % 702 234 Income tax expense s 1892 1.891 Net income 72 Other expenses % Income tax expense Net income Which company earned more net income? Which company's not income was a higher percentage of its net salos? Explain your answer is more profitable because it eams a higher percentag of profit oach dellar of sales than has a net income at a higher percentage of net salos earned more net income does Enter emc mber in the odt folde