Complete the following vertical analyses of Dragonfly Corporation€™s income statement. What line item is the largest percent of sales? How has it changed from 2016 to 2015?

Transcribed Image Text:

As of percent of sales in millions) Sales Cost of Goods Sold 2016 2016 S63,762 33,092 30,670 15,335 7.052 2015 2015 Gross Profit Selling, General, and Administrative Expenses Research and Development Expense Interest Expense Eamings Before Provision for Taxes Provision for Taxes Net Income $61,890 20,096 31,794 15,997 7944 142 7911 2.769 S 5,290 5,142 145 8,138 2,848