Horizontal Analysis Sundahl Company's income statements for the past 2 years are as follows: Sundahl Company...

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Horizontal Analysis Sundahl Company's income statements for the past 2 years are as follows: Sundahl Company Income Statements Sales Less: Cost of goods sold Gross margin For the Years 1 and 2 Year 1 Year 2 $2,004,000 $1,813,000 1,394,000 1,203,000 $610,000 $610,000 Less operating expenses: Selling expenses $291,000 $291,000 Administrative expenses 126,700 136,500 Operating income $192,300 $182,500 Less: Interest expense Net income before taxes 50,300 40,500 $142,000 $142,000 Required: Prepare a common-size income statement for Year 2 by expressing each line item for Year 2 as a percentage of that same line item from Year 1. (Note: Enter all amounts as positive numbers. Round answers to the nearest tenth of a percent.) Sundahl Company Income Statement For Year 2 Line Item Description Year 2 Amount Percent of Year 1 Amount Less operating expenses: Less: % % Horizontal Analysis Sundahl Company's income statements for the past 2 years are as follows: Sundahl Company Income Statements Sales Less: Cost of goods sold Gross margin For the Years 1 and 2 Year 1 Year 2 $2,004,000 $1,813,000 1,394,000 1,203,000 $610,000 $610,000 Less operating expenses: Selling expenses $291,000 $291,000 Administrative expenses 126,700 136,500 Operating income $192,300 $182,500 Less: Interest expense Net income before taxes 50,300 40,500 $142,000 $142,000 Required: Prepare a common-size income statement for Year 2 by expressing each line item for Year 2 as a percentage of that same line item from Year 1. (Note: Enter all amounts as positive numbers. Round answers to the nearest tenth of a percent.) Sundahl Company Income Statement For Year 2 Line Item Description Year 2 Amount Percent of Year 1 Amount Less operating expenses: Less: % %