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Baird Company reported the following operating results for two consecutive years: Required Compute each Income statement component for each of the two years as a percentage of sales. (Percentages may not add exactly due to rounding. Round your percentage answers to 1 decimal place. (.e., 0.234 should be entered as 23.4).) Percentage of Sales Sales Sales Cost of goods sold Gross margin on sales Operating expenses Income before Income taxes Not income BAIRD COMPANY Vertical Analysis of income Statements Year 4 Percentage of Year 3 $ 998,000 $ 1.080.500 548.900 599 400 449.100 481,100 130,100 151,400 319.000 329,700 80.900 80.800 5 238.100 % $ 248.900