2.9

Campbell 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 exac due to rounding. Round your percentage answers to 1 decimal place. (i.e., 0.234 should be entered as 23.4).) Sales Cost of goods sold Gross margin on sales Operating expenses Income before taxes Income taxes Net income CAMPBELL COMPANY Vertical Analysis of income Statements Percentage of Year 4 Sales S $ 996,500 548,075 448,425 129,800 318,625 80,100 238,525 Year 3 % $ 1,081,000 601,000 480,000 % $ 149,200 330,800 83,600 247,200 Percentage of Sales