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Required information [The following information applies to the questions displayed below.] Shown here are condensed income statements for two different companies (assume no income
Required information [The following information applies to the questions displayed below.] Shown here are condensed income statements for two different companies (assume no income taxes). Miller Company $ 1,150,000 920,000 Sales Variable expenses (80%) Income before interest Interest expense (fixed) Net income 230,000 76,000 $ 154,000 Sales Weaver Company $ 1,150,000 690,000 Variable expenses (60%) Income before interest Interest expense (fixed) Net income 460,000 306,000 $ 154,000 2. What happens to each company's net income if sales increase by 30%? Note: Round your answers to nearest whole percent. Company Miller Company Weaver Company Net income % % 13
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