Exercise 9-2A (Algo) Vertical analysis LO 9-1 Finch 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 100.01% Sales Cost of goods sold Gross margin on sales Operating expenses Income before taxes Income taxes FINCH COMPANY Vertical Analysis of Income Statements Year 4 Percentage of Year 3 Sales $ 997,500 100.0 % $ 1,080,500 548,625 599,000 448,875 481,500 130,300 150,000 318,575 331,500 79.800 83.200 $ 238,775 % $ 248,300 Net income