Calculate the rate of net income on sales for these two years. Canna, Inc. Comparative Income Statement

Calculate the rate of net income on sales for these two years.

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Canna, Inc. Comparative Income Statement Years Ended December 31, 2019 and 2018 Amounts 2018 2019 1635750 9 6750 1539000 106 6 300 4 72700 2 15000 2 10000 Sales Less Sales Returns and Allowances Net Sales Cost of Goods Sold Gross Profit on Sales Selling Expenses General Expenses Total Expenses 150095o 82950 14 18000 992600 | 4 25400 205000 190000 395000 30400 45 60 425000 4 7700 7 155 4 0545 Net Income before Income Taxes Income Tax Expense Net Income after Income Taxes 25840