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GHA Ch 8 & 9 A Saved Help Save & Exit Submit Check my work 4 Franklin Company reported the following operating results for two consecutive years: Required Compute each income statement component for each of the two years as a percentage of sales. (Percentages may not add exactly due to rounding. Round your percentage answers to 1 decimal place. (i.e., 0.234 should be entered as 23.4).) eBook Hint Print Percentage of Sales % Sales Cost of goods sold Gross margin on sales Operating expenses Income before taxes Income taxes Net income FRANKLIN COMPANY Vertical Analysis of Income Statements Year 4 Percentage of Sales Year 3 $ 1,002,000 % S 1,082,500 551,100 598,800 450.900 483,700 129,000 148,000 321,900 335.700 80,700 82,400 $ 241,200 % % S S 253,300 % BE MC Graw Hill