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Question 26 The following information was taken from the financial statements of Lawson Company: Gross profit on sales Income before income taxes Net Income Net income as a percentage of net sales 2019 $900,000 280,000 240,000 8% 2018 $840,000 230,000 216,000 9.% Compute the net sales for each year. 2019 2018 Net Sales 240000 $ $ 216000 Compute the cost of goods sold in dollars and as a percentage of net sales for each year. 2019 2018 Cost of goods sold in dollars 2100000 5 $ 1560000 Cost of goods sold as a percentage of net sales 705 6596 Compute operating expenses in dollars and as a percentage of sales for each year Income taxes are not operating exe). (Hind ceva forma 152 and all other awers to decimal places, eg. 1.525.) 2019 2018 Operating expenses in dollars 620000 5 630000 Operating expenses as a percentage of net sales 2544 Click if you would like to show Work for this