Exercise 13-2A 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 percent of sales. (Percentages may not add exactly due to rounding. Round your answers to 1 decimal place. (.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 CAMPBELL COMPANY Vertical Analysis of Income Statements 2019 Percentage of 2018 Sales $ 1,000,000 % $ 1,084,500 550,000 601.800 450,000 482,700 130.900 148,400 319,100 334,300 79,300 83,800 $ 239,800 % $ 250,500 % Net Income