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. (l.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 $ 1,001,500 % S 1,078,000 550,825 601,800 450,675 476,200 129,200 148,600 321,475 327,600 80,100 81.600 $ 241.375 % $ 246,000