Baird Corporation reported the following operating results for two consecutive years: Required a. Compute the percentage changes in Baird Corporation's income statement components between the two years. (Negative amounts should be indicated by a minus sign. Round your percentage answers to 1 decimal place. (i.e., 0.234 should be entered as 23.4).) BAIRD CORPORATION Income Statements Percentage Year 3 Year 2 Change Sales $ 1,296,000 $ 1,001,000 % Cost of goods sold 797,040 600,600 Gross margin 498,960 400,400 Operating expenses 304,000 198,000 Income before taxes 194,960 202,400 Income taxes 61,200 52,000 Net income (loss) $ 133,760 $ 150,400