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Operating data for jacobs corporation are presented

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Operating data for Jacobs Corporation are presented below.

2014 2013
Sales revenue $800,000 $600,000
Cost of goods sold 520,000 408,000
Selling expenses 120,000 72,000
Administrative expenses 60,000 48,000
Income tax expense 30,000 24,000
Net income 70,000 48,000

Prepare a schedule showing a vertical analysis for 2014 and 2013. (Round percentages to 1 decimal place, e.g. 12.1%.)

JACOBS CORPORATION
Condensed Income Statement
For the Years Ended December 31
2014 2013
Amount Percent Amount Percent
Sales $800,000   % $600,000   %
Cost of goods sold 520,000   % 408,000   %
Gross profit 280,000   % 192,000   %
Selling expenses 120,000   % 72,000   %
Administrative expenses 60,000   % 48,000   %
Total operating expenses 180,000   % 120,000   %
Income before income taxes 100,000   % 72,000   %
Income tax expense 30,000   % 24,000   %
Net income mce_markernbsp;70,000   % mce_markernbsp;48,000   %

Reference no: EM131785559

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