Question - Operating data for Navarro Corporation are presented below.
|
|
2017
|
2016
|
|
Net sales
|
$754,000
|
$601,500
|
|
Cost of goods sold
|
469,500
|
389,500
|
|
Selling expenses
|
124,500
|
67,500
|
|
Administrative expenses
|
65,000
|
52,000
|
|
Income tax expense
|
30,000
|
25,500
|
|
Net income
|
65,000
|
67,000
|
Required - Prepare a schedule showing a vertical analysis for 2017 and 2016.