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 net 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 March 31 2020 Percentage Sales $314,600 19% Cost of Goods Sold $151,008 % Gross Profit $163,592 % Operating Expenses: Advertising $3,500 1% Depreciation $1,920 % Rent Expense $3,500 1% Salaries and Wages $48,500 1% Utilities $8,800 % Total Operating Expenses $66,220 Other Expenses Interest $2,750 Operating Profit before tax $63,470 % Income Tax $19,041 % Net Income $44,429