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).)

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 %