Comparative income statements ofSpyres Manufacturing Company for 2015 and 2016 are reproduced below: 2016 2015 Net Sales $600000 $500000 Cost of Goods Sold 490000 430000 Gross Margin 110000 70000 Operating expenses 101000 51000 Income before taxes 9000 19000 Income Taxes 2400 5000 Net Income $6600 $14000 Prepare common size statements showing the percent of each item to net sales for both years. Include a column reporting the percentage increase or decrease for 2016 relative to 2015 (round number to thetenth of 1%).