Jordan Company reported the following operating results for two consecutive years.

Required
Express each income statement component for each of the two years as a percent of sales. Round percentages to one decimalpoint.

2014 Amount Percent of Sales Sales Cost of goods sold Gross margin on sales Operating expenses Income before taxes Income taxes Net income $1,600,000 900,000 700,000 200,000 500,000 100,000 S 400,000 2015 Amount Percent of Sales Sales Cost of goods sold Gross margin on sales Operating expenses Income before taxes Income taxes Net income $2,000,000 1.180,000 820,000 240,000 580,000 120,000 $460,000