Vertical analysis Sharma Company reported the following operating results for two consecutive years.

Year 3	Amount	Percentage of Sales
Sales Cost of goods sold	$ 800,000 450,000
Gross margin on sales Operating expenses	350,000 100,000
Income before taxes Income taxes	250,000 50,000
Net Income	$ 200,000
Year 4	Amount	Percentage of Sales
Sales Cost of goods sold	$1,000,000 590,000
Gross margin on sales Operating expenses	410,000 120,000
Income before taxes Income taxes	290,000 60,000
Net income	$ 230,000

You are required to: Express each income statement component for each of the two years as a percentage of sales. Round percentages to one decimal point.