Rundle Company reported the following operating results for two consecutiRUNDLE COMPANY

Vertical Analysis of Income Statements

Year $4$ Percentage of Sales Year $3$ Percentage of Sales

Sales $$1,004,500\%$ $$1,083,500\%$

Cost of goods sold $552,475600,000$

Gross margin on sales $452,025483,500$

Operating expenses $129,400149,200$

Income before taxes $322,625334,300$

Income taxes $80,70082,200$

Net income $$241,925\%$ $$252,100\%$ve years: