Osgood Company Provided the Following Income Statement for Year 1

Osgood Company provided the following income statement for Year 1 and Year 2: $\begin{array}{l}\begin{array}{|l}\hline\\\hline \text { Sales }\\\hline \text { Cost of goods sold }\\\hline \text { Gross margin }\\\hline \text {Less operating expenses:}\\\hline \text { Selling and administrative expenses }\\\hline \text { Interest expense }\\\hline \text {Income before tax}\\\hline \text {Income tax expense}\\\hline \text { Net income }\\\hline\end{array}\begin{array}{|c|}\hline \underline {2014}\\\hline {\$\quad 220,000} \\\hline \underline {156,000} \\\hline 64,000 \\\hline\\\hline 26,000 \\\hline \underline {2,000} \\\hline 36,000 \\\hline \underline {10,800} \\\hline \underline {\$\quad 25,200} \\\hline\end{array}\begin{array}{c|}\hline \underline {2013}\\\hline{\$\quad160,000} \\\hline \underline {105,000 }\\\hline 55,000 \\\hline \\\hline 15,000 \\\hline \underline {3,000 }\\\hline 37,000 \\\hline \underline {11,100 }\\\hline \underline {\$\quad 25,900} \\\hline\end{array}\end{array}$ Required:
(a)Perform vertical analysis on Osgood's income statements for Year 1 and Year 2.Round your answer to one decimal place (i.e.22.4%)