Craft Inc. and Cherry Ltd are competitors. Compare the two companies by converting their condensed income statements to common size (Click the icon to view the income statements.) Which company earned more net income? Which company's net income was a higher percentage of its net sales? Which company is more profitable? Explain your answer Begin by converting the condensed income statements to common size. (Round your answers to two decimal places, X.XX%.) (In millions) Net sales Cost of goods sold Selling and administrative expenses Interest expense Other expense Income tax expense Net income $ S Amount Craft 9,800 5,765 2,660 55 39 338 943 Percent % Cherry Amount Percent $ 19.600 14 111 3,300 17 43 599 1,530 --HOID % 196 Data table (In millions) Net sales... Cost of goods sold.. Selling and administrative expenses.. Interest expense. Other expense. Income tax expense. Net income. Print $ Craft Done 9,800 5,765 2,660 55 39 338 943 $ $ Cherry - 19,600 14,111 3,300 17 43 599 1,530 X