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Pines Inc re ed the following operating results for two consecutive years Amount Sales Cost of Goods Sold Gross Margin 2,000,000 1,450,000 550,000 290,000 260,000

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Pines Inc re ed the following operating results for two consecutive years Amount Sales Cost of Goods Sold Gross Margin 2,000,000 1,450,000 550,000 290,000 260,000 erating Expenses Income Before Taxes ncome Taxes Net Income 72,800 187,200 moun Sales Cost of Goods Sold Gross Margin Operating Expenses Income Before Taxes ncome Taxes Net Income 2,500,000 1,700,000 800,000 350,000 450,000 144,000 306,000 REQUIRED Express each income statement component for each of the two years as a percent of sales in a single chart

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