Stuart 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).)

STUART COMPANY

Vertical Analysis of Income Statements

	Year 4		Percentage of sales	Year 3	Percentage of Sales
Sales	999,000		%	$1,081,500		%
Cost of good sold	549,450			601,400
Gross margin on sales	449,550			480,100
Operating expenses	130,200			151,400
Income before taxes	319,350			328,700
Income taxes	79,900			80,200
Net income	$ 239,450			$248,500