Exercise 13-2A (Algo) Vertical analysis LO 13-1 Campbell 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 answers to 1 decimal place. (i.e., 0.234 should be entered as 23.4).) Sales Cost of goods sold Gross margin on sales Operating expenses Income before taxes Income taxes Net income CAMPBELL COMPANY Vertical Analysis of Income Statements Year 4 $ 1,005,000 Percentage of Sales Year 3 Percentage of Sales % $ 1,084,000 % 552,750 599,800 452,250 484,200 130,300 149,600 321,950 334,600 79,700 82,600 $ 242,250 % $ 252,000 %