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Prepare a schedule showing a vertical analysis

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Reference no: EM131812868

Operating data for Navarro Corporation are presented below.

2015 2014
Net sales $747,970 $601,350
Cost of goods sold 460,140 393,260
Selling expenses 121,740 68,350
Administrative expenses 63,150 53,670
Income tax expense 32,090 21,380
Net income 70,850 64,690

Prepare a schedule showing a vertical analysis for 2015 and 2014. (Round answers to 1 decimal place, e.g. 48.5%.)

NAVARRO CORPORATION
Condensed Income Statements
For the Years Ended December 31
2015 2014
Amount Percent Amount Percent
Net sales $747,970 100 % $601,350 100 %
Cost of goods sold 460,140 61.5 % 393,260 65.4 %
Gross profit 287,830 43 % 208,090 12 %
Selling expenses 121,740 16.3 % 68,350 11.4 %
Administrative expenses 63,150 8.4 % 53,670 8.9 %
Total operating expenses 184,890 67 % 122,020 90 %
Income before income taxes 102,940 88 % 86,070 34 %
Income taxes expense 32,090 4.3 % 21,380 3.6 %
Net income $70,850 9.5 % $64,690 10.8 %

 

Reference no: EM131812868

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