Perez 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).) Sales Cost of goods sold Gross margin on sales Operating expenses Income before taxes. Income taxes Net income PEREZ COMPANY Vertical Analysis of Income Statements Year 4 Percentage of Sales Year 31 Percentage of Sales $ 1,003,000 % $ 1,080,500 % 551,650 599,400 451,350. 481,100 130,200 150,000 321,150 331,100 80,400 84,000 $ 240,750 % $ 247,100 Perez 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).) Sales Cost of goods sold Gross margin on sales Operating expenses Income before taxes. Income taxes Net income PEREZ COMPANY Vertical Analysis of Income Statements Year 4 Percentage of Sales Year 31 Percentage of Sales $ 1,003,000 % $ 1,080,500 % 551,650 599,400 451,350. 481,100 130,200 150,000 321,150 331,100 80,400 84,000 $ 240,750 % $ 247,100