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Please help solve and explain Perez Company reported the following operating results for...

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Accounting

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Perez Company reported the following operating results for two consecutive years Required Compute each income statement component for each of the two years as a percent of sales. (Percentages may not add exactly due to rounding. Round your answers to 1 decimal place. (i.e., .234 should be entered as 23.4).) PEREZ COMPANY Vertical Analysis of Income Statements Percentage of Sales Percentage of Sales 2019 2018 Sales Cost of goods sold Gross margin on sales Operating expenses Income before taxes Income taxes $ 995,500 547,525 447,975 130,900 317,075 80,300 $ 236,775 96| $ 1,081,500. 600,000 481,500 148,600 332,900 81,000 %|$ 251,900 Net income

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