2.)

Adams Company reported the following operating results for two consecutive years: Required Compute each income statement component for each of the two years as a percent of sales. (Percentages may not add exactly due to rounding. Round your answers to 1 decimal place. (.e,.234 should be entered as 23.4).) Yoar 3 Percentage of Sales Sales Cost of goods sold Gross margin on sales Operating expenses Income before taxes Income taxes Net Income ADAMS COMPANY Vertical Analysis of Income Statements Year 4 Percentage of Sales $ 999,000 % $ 549,450 449,550 129,800 319,750 79,000 $ 240,750 % $ 1,079.000 598,600 480,400 152,000 328,400 80,600 247,800