Operating data for Navarro Corporation are presented below.

Operating data for Navarro Corporation are presented below.

Question
	Operating data for Navarro Corporation are presented below.


Instructions
Prepare a schedule showing a vertical analysis for 2015 and2014.

NAVARRO CORPORATION
Condensed Income Statements
For the Years EndedDecember 31
2015
2014
Amount
Percent
Amount
Percent
Net sales
$750,000
%
$600,000
%
Cost of goods sold
465,000
%
390,000
%
Gross profit
285,000
%
210,000
%
Selling expenses
105,000
%
66,000
%
Administrative expenses
60,000
%
54,000
%
Total operating expenses
165,000
%
120,000
%
Income before income taxes
120,000
%
90,000
%
Income taxes expense
36,000
%
27,000
%
Net income
$84,000
%
$63,000
%