Solomon Company reported the following operating results for two consecutive years: Required: Express each income statement component for each of the two years as a percentage of sales. Note: Percentages may not add exactly due to rounding. Round your answers to 1 decimal place. (i.e., 0.234 should be entered as 23.4). Sales Cost of goods sold Gross margin on sales Operating expenses Income before taxes Income taxes Net income SOLOMON COMPANY Vertical Analysis of Income Statements Year 4 Percentage of Sales Year 3 Percentage of Sales $ 1,003,000 100.0 % $ 1,082,00 G 100.0% 551,650 601,800 451,350 480,200 130,600 148,400 320,750 331,800 80,100 83,400 $ 240,650 % $ 248,400 %