Banning Beading 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. (i.e., 0.234 should be entered as 23.4).)

Percentage of Sales % Sales Cost of goods sold Gross margin on sales Operating expenses Vertical Analysis of Income Statements Percentage of Year 4 Year 3 Sales $ 1,000,500 % $ 1,075,500 550,275 600,000 450,225 475,500 130,200 150,000 320,025 325,500 80,700 82,200 $ 239,325 % $ 243,300 Income before taxes Income taxes Net income %