Question 26 The following information was taken from the financial statements of Lawson Company: 2019 2018 Gross profit on sales $900,000 $840,000 Income before income taxes 280,000 230,000 Net income 240,000 216,000 Net income as a percentage of net sales 8 % 9 % Compute the net sales for each year. 2019 2018 Net Sales $ $ Compute the cost of goods sold in dollars and as a percentage of net sales for each year. 2019 2018 Cost of goods sold in dollars $ $ Cost of goods sold as a percentage of net sales % % Compute operating expenses in dollars and as a percentage of net sales for each year. (Income taxes are not operating expenses). (Round percentages to 1 decimal place, e.g. 15.2% and all other answers to 0 decimal places, e.g. 1,525.) 2019 2018 Operating expenses in dollars $ $ Operating expenses as a percentage of net sales % %