Answer question.

Analyze the common size income statements below for 3T Company:

	2015	2014
Net sales	100%	100%
COGS	89	87
Gross margin	11%	13%
Selling, general and administrative	7	9
Restructuring, asset impairments and other charges	0	9
Income/(loss) from operations	4%	(5)%
Interest expense	(1)	(2)
Income/(loss) before taxes	3%	(7%)
Provision for/(benefit from) income taxes	1	0
Income/(loss) after taxes	2%	(7)%
Discontinued operations, net	6	1
Net income (loss)	8%	(6)%