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Rooney Company reported the following operating results for two consecutive years: Required Compute each income statement component for each of the two years as a

Rooney 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).)

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Percentage of Sales Sales Cost of goods sold Gross margin on sales Operating expenses Income before taxes Income taxes Net income ROONEY COMPANY Vertical Analysis of Income Statements Year 4 Percentage of Year 3 Sales 997,000 % $ 1,076,500 548,350 601,000 448,650 475,500 129,200 148,600 319,450 326,900 80,500 83,400 $ 238,950 % $ 243,500 %

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