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I need help. The following information was obtained from the income statements of Roberts Company and Powell Company to be used in vertical analysis. Income

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The following information was obtained from the income statements of Roberts Company and Powell Company to be used in vertical analysis. Income Statement For Year Ended December 31, 2019 Roberts Company Powell Company Sales $2,000,000 $600,000 Cost of Goods Sold 800,000 216,000 Gross Profit 1,200,000 384,000 Operating Expense 840,000 255,300 Income before Taxes 360,000 128,700 Income Tax Expense 136,800 48,906 Net Income $223,200 $79,794Required: 1. Compute Roberts Company's Income before taxes as a percentage of sales. 2. Compute Powell Company's Income before taxes as a percentage of sales. Round your responses to two decimal places. 1. Roberts Company : % 2. Powell Company : %

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