Exercise 18-2Operating data for Navarro Corporation are presented below.
|Cost of goods sold||460,260||388,110|
|Income tax expense||30,150||26,060|
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
|Cost of goods sold||460,260||%||388,110||%|
|Total operating expenses||181,500||%||129,830||%|
|Income before income taxes||106,100||%||86,930||%|
|Income taxes expense||30,150||%||26,060||%|
|Net income||$75,950||%||$60,870|| |
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