12.

A comparative income statement is given below for Ryder Company:

Ryder Company Comparative Income Statement
	This Year			Last Year
Sales	$	7,380,000		$	5,535,000
Cost of goods sold		4,990,700			3,515,000
Gross margin		2,389,300			2,020,000
Selling and administrative expenses:
Selling expenses		1,476,500			1,076,000
Administrative expenses		710,000			610,500
Total selling and administrative expenses		2,186,500			1,686,500
Net operating income		202,800			333,500
Interest expense		100,000			93,000
Net income before taxes	$	102,800		$	240,500

The president is concerned that net income is down even though sales have increased during the year. The president is also concerned that administrative expenses have increased because the company made a concerted effort to cut waste out of the organization.

Required:
1.	Express each year's income statement in common-size percentages. (Input all amounts as positive values. Round your answers to 1 decimal place. Due to rounding, figures may not fully reconcile down a column.)

Ryder Company Comparative Income Statement
	This Year		Last Year
Sales	%		%
Cost of goods sold	%		%
Gross margin	%		%
Selling and administrative expenses:
Selling expenses	%		%
Administrative expenses	%		%
Total selling and administrative expenses	%		%
Net operating income	%		%
Interest expense	%		%
Net income before taxes	%		%