The following percentages apply to Rundle Company for Year 3 and Year 4: Year 4 Year 3 Sales 100.0 % 100.0 % Cost of goods sold 61.0 64.1 Gross margin 39.0 35.9 Selling and administrative expense 26.5 20.6 Interest expense 2.3 2.0 Total expenses 28.8 22.6 Income before taxes 10.2 13.3 Income tax expense 5.5 7.1 Net income 4.7 % 6.2 % Required Assuming that sales were $515,000 in Year 3 and $595,000 in Year 4, prepare income statements for the two years.