Description
Operating data for Navarro Corporation are presented below.
| 2015 | 2014 | |
| Net sales | $746,530 | $597,910 |
| Cost of goods sold | 465,140 | 394,560 |
| Selling expenses | 118,980 | 74,850 |
| Administrative expenses | 57,530 | 57,070 |
| Income tax expense | 31,610 | 28,360 |
| Net income | 73,270 | 43,070 |
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 |
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| 2015 | 2014 | |||
| Amount | Percent | Amount | Percent | |
| Net sales | $746,530 | % | $597,910 | % |
| Cost of goods sold | 465,140 | % | 394,560 | % |
| Gross profit | 281,390 | % | 203,350 | % |
| Selling expenses | 118,980 | % | 74,850 | % |
| Administrative expenses | 57,530 | % | 57,070 | % |
| Total operating expenses | 176,510 | % | 131,920 | % |
| Income before income taxes | 104,880 | % | 71,430 | % |
| Income taxes expense | 31,610 | % | 28,360 | % |
| Net income | $73,270 | % | $43,070 | % |
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