Jordan Company reported the following operating results for two consecutive years.

Required
Express each income statement component for each of the two years as a percent of sales. Round percentages to one decimalpoint.

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2014 Amount Percent of Sales Sales Cost of goods sold Gross margin on sales Operating expenses Income before taxes Income taxes Net income $1,600,000 900,000 700,000 200,000 500,000 100,000 S 400,000 2015 Amount Percent of Sales Sales Cost of goods sold Gross margin on sales Operating expenses Income before taxes Income taxes Net income $2,000,000 1.180,000 820,000 240,000 580,000 120,000 $460,000