Condensed data from the income statement for Fleetwood Corporation follow:

Instructions
(a) Using vertical analysis, calculate the percentage of the base amount for each year.
(b) Comment on three trends that can be noticed in the vertical analysis that you prepared in part (a).

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2018 2017 Net sales Cost of goods sold Gross proft Operating expenses $800,000 $600,ooo 550,000 375,00o 250,000 225,000 155,000 125,0oo Income before incometax 95,000 10o,o00 15,000 20,00o $ 80,000 $ 80,000 Income tax expense Net income