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Revenue and expense data for Vent Molded Plastics and for the plastics industry as a whole follow:
Vent Molded Plastics
Plastics Industry
Sales
$462,000
100.3%
Sales returns
4,500
0.3
Cost of goods sold
330,000
67.1
Selling expenses
43,000
10.1
General expenses
32,000
7.9
Other income
1,800
0.4
Other expense
7,000
1.3
Income tax
22,000
5.5
Required: Convert the dollar figures for Vent Molded Plastics into percentages based on net sales. Compare these with the industry average, and comment on your findings.
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