Jordan 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. (i.e., .234 should be entered as 23.4).)

JORDAN COMPANY Vertical Analysis of Comparative Income Statement Percentage of 2015 2014 Sales Sales 1.000.000 1.077.500 Cost of goods sold 550,000 598,000 450,000 479,500 Gross margin on sales 130,700 149,000 Operating expenses 319,300 330,500 Income before taxes Income taxes 80,900 80,600 Net income 238,400 249,900 Percentage of Sales 70