Pristine Company and Jermaine Corporation are competitors.

Compare the two companies by converting their condensed income statements to common-size statements. Which company earned 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, X.X%.)

ACC 231 Fall 2020 Edric Maglalang & | 12/01/20 6:06 PM Homework: Chapter 12 Homework Save Score: 0 of 10 pts 2 of 2 (0 complete) HW Score: 0%, 0 of 20 pts S12-4 (similar to) Question Help Pristine Company and Jermaine Corporation are competitors. 2 (Click the icon to view the income statements.) Compare the two companies by converting their condensed income statements to common-size statements. Which company earned 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%.) (In millions) Pristine Data Table Percent Amount $ 20,000 Jermaine Amount Percent 10,500 Net sales % % % % (In millions) 11,800 5,560 6,909 2,037 Pristine Jermaine 20,000 $ 10,500 % % $ Cost of goods sold Selling and administrative expenses Interest expense Other expenses Income tax expense 20 % 21 % 11,800 Net sales Cost of goods sold Selling and administrative expenses Interest expense 6,909 2,037 60 % 42 % 5,560 920 % 378 % 20 $ 1,640 $ 1.113 Net income % 21 42 378 % Other expenses 60 920 Income tax expense $ 1,640 $ 1,113 Net income Print Done Done Enter any number in the edit fields and then click Check Answer. ? 1 pana Clear All Check Answer remaining