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Benson Company reported the following operating results for two consecutive years: Required Compute each income statement component for each of the two years as a

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Benson Company reported the following operating results for two consecutive years: Required Compute each income statement component for each of the two years as a percent of sales. (Percentages may not add exactly due to rounding. Round your answers to 1 decimal place.(i.e.,.234 should be entered as 23.4).) Percentage of Sales Sales Cost of goods sold Gross margin on sales Operating expenses Income before taxes Income taxes Net income BENSON COMPANY Vertical Analysis of Income Statements Year 4 Percentage of Sales $ 1,005,000 552,750 452,250 129,100 323,150 80,100 $ 243,050 % $ Year 3 1,080,500 601,200 479,300 152.000 327,300 81,000 246,300

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