The following income statements were drawn from the annual reports of Toner Sales Company:

	2018*				2019*
Net sales	$	426,700			$	521,700
Cost of goods sold		(285,889	)			(297,369	)
Gross margin		140,811				224,331
Less: Operating expense
Selling and administrative expenses		(72,539	)			(88,689	)
Net Income	$	68,272			$	135,642

*All dollar amounts are reported in thousands.

The presidents message in the companys annual report stated that the company had implemented a strategy to increase market share by spending more on advertising. The president indicated that prices held steady and sales grew as expected. Prepare common size income statements and make appropriate references to the differences between 2018 and 2019. (Round all intermediate calculations and final answers for percentage values to 1 decimal place. Enter answers in millions, not in dollar.)

TONER SALES COMPANY
Income Statement
For the Years Ended December 31, 2018 and 2019
	2018			2019
			%			%
			%			%