The following financial statement is taken from the records of Jade Inc. Prepare a common-size income statement for 2020 and state all the income statement items as a percentage of sales.

Do not enter dollar signs or commas in the input boxes. Round your answers to 2 decimal places.

Jade Inc. Income Statement For the Year Ended May 31
	2020	Percentage
Sales	$311,300
Cost of Goods Sold	$140,085
Gross Profit	$171,215
Operating Expenses:
Advertising	$3,200
Depreciation	$1,260
Rent Expense	$4,500
Salaries and Wages	$54,100
Utilities	$8,300
Total Operating Expenses	$71,360
Other Expenses
Interest	$2,980
Operating Profit before tax	$68,380
Income Tax	$20,514
Net Income	$47,866