Winthrop Corporation reported the following operating results for two consecutive years:

Required

Compute the percentage changes in Winthrop Corporation?s income statement components between the two years.

Sales Cost of goods sold Gross margin Operating expenses Income before taxes Income taxes Net income WINTHROP CORPORATION Income Statements 2018 2017 $ 1,200,000 $ 1,000,000 720,000 640,000 480,000 360,000 200,000 160,000 280,000 200,000 56,000 40,000 $ 224,000 $ 160,000 Percentage Change % %