Pristine Company and Louisa Corporation are competitors. (Click the icon to view the income statements.) Compare...
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Pristine Company and Louisa 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 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%. Do not enter the % symbol in any of the input fields.) (In millions) Pristine Amount Percent Net sales Cost of goods sold Selling and administrative expenses Interest expense Other expenses Income tax expense Net income Louisa Amount Percent $ 15,000 8,880 $ 6,500 % % % 4,420 % $ 1,230 4,140 % 1,261 % e % % 600 828 39 % 13 % 130 % % 637 Pristine Company and Louisa 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 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%. Do not enter the % symbol in any of the input fields.) (In millions) Pristine Amount Percent Net sales Cost of goods sold Selling and administrative expenses Interest expense Other expenses Income tax expense Net income Louisa Amount Percent $ 15,000 8,880 $ 6,500 % % % 4,420 % $ 1,230 4,140 % 1,261 % e % % 600 828 39 % 13 % 130 % % 637
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