Thornton Company reported the following operating results for two consecutive years: Required Compute each income statement component for each of the two years as a percent of sales. (Percentages due to rounding. Round your answers to 1 decimal place. (.e., .234 should be entered as 23.4).) Percentage of Sales Sales Cost of goods sold Gross margin on sales Operating expenses Income before taxes Income taxes THORNTON COMPANY Vertical Analysis of Income Statements 2019 Percentage of 2018 Sales $ 998,500 % $ 1,084,500 549 175 601,000 449,325 483,500 130 700 148.400 318.625 335,100 80.600 80.600 $ 238 025 % $ 254,500 Net income ne 009