Scherer Company provided the following income statements for its first 3 years of operation: Scherer Company Income Statements Years of Operation Year Year 1 $980,000.00 $1,029,000.00 $1,214,000.00 (298,000.00) (323,000.00) (564,000.00) $682,00000 Year 2 2 Net sales 3 Less: Cost of goods sold 4 Gross margin 5 Less: 6Operating expenses income taxes $910,000.00 $706,000.00 420,000.00) (484,000.00) (590,500.00) 113,000.00) (120,400.00) (139,000.00) 49,00000 $101,600.00 $1500 Net income Required: Prepare common-size income statements by using Year 1 as the base period Refer to the list below for the exact wording of an account title within your income statement Labels Add Less Amount Descriptions Add contribution margin Cost of goods sold Gross margin Income taxes Less contribution margin Net income Net loss Net sales Operating Expenses found ty useg vest aste base penod (Note Enter amounts as positive numbers, except kr a net loss Enter net loss as a negative number, af applicable answers to the nearest whole percentage. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries ) Scherer Company Common Sce lincome Statements Years of Operation Year 5 Year Yea 7 Year 5 Pescentage Dollars Pescentage Dollars Pescentage