What does the percentage of sales method assume about costs of goods sold (COGS) and selling, general and administrative (SG&A) expenses? In 2021 would you expect SG&A expenses to be higher or lower than those projected on your proforma income statement?

Cola Cola Income Statement -
	2020	% Sales	2021
Sales	$27,500,000.00		$ 29,768,750.00
Costs of Goods Sold	18,100,000.00	65.82%	19,593,250.00
Operating Expenses	-	0.00%	-
SG&A	1,700,000.00	6.18%	1,840,250.00
Depreciation	1,200,000.00		1,500,000.00
EBIT	6,500,000.00		6,835,250.00
Interest expense	1,000,000.00		1,000,000.00
Taxable income	5,500,000.00		5,835,250.00
Taxes (34%)	1,870,000.00		1,983,985.00
Net income	3,630,000.00		3,851,265.00
Dividends	1,270,500.00		1,347,942.75
Addition to R/E	2,359,500.00		2,503,322.25