The Haines Corporation shows the following financial data for 20X1 and 20X2: 20X1 20X2 Sales $ 3,220,000 $ 3,020,000 Cost of goods sold 1,600,000 2,300,000 Gross profit $ 1,620,000 $ 720,000 Selling & administrative expense 278,000 288,000 Operating profit $ 1,342,000 $ 432,000 Interest expense 48,600 52,700 Income before taxes $ 1,293,400 $ 379,300 Taxes (35%) 452,690 132,755 Income after taxes $ 840,710 $ 246,545 For each year, compute the following ratios and indicate how the change in each ratio will affect profitability in 20X2.

Note: Input your answers as a percent rounded to 2 decimal places.

	20X1	20X2	Profitability
cost of goods sold to sales
selling and administrative expense to sales
interest expense to sales

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