Comparative data from the income statement of Fleetwood Corporation are shown below.

Instructions

Prepare a vertical analysis for Fleetwood Corporation.

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2021 2020 Net sales $800,000 $600,000 Cost of goods sold 550,000 375,000 Gross profit 250,000 225,000 Operating expenses 175,000 125,000 Profit before income tax 75,000 100,000 Income tax expense 18,750 25,000 Profit $ 56,250 $ 75,000