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    Argosy University/ Phoniex University/
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Category > HR Management Posted 15 Jan 2018 My Price 8.00

Craft, Inc

13-4 (Learning Objective 3: Compare common-size income statements of two companies) Craft, Inc., and Kleen Corporation are competitors. Compare the two companies by converting their condensed income statements to common size.

 

 

 

 

 

 

 

(In millions)

Craft

 

Kleen

Net     sales.........................................................

$17,800

 

$7,569

Cost  of  goods  sold..........................................

10,573

 

4,965

Selling and administrative expenses................

4,895

 

1,521

Interest   expense..............................................

53

 

23

Other expenses...............................................

89

 

38

Income  tax  expense ........................................

          730

 

      250

Net income.....................................................

$   1,460

 

$   772

 

 

 

 

 

Which company earned more net income? Which company’s net income was a higher percentage of its net sales? Explain your answer.

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Maurice Tutor
(5)
Status NEW Posted 15 Jan 2018 10:01 PM My Price 8.00

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