Current Attempt in Progress

Selected data (in thousands) from the income statement of Sheridan Inc. are shown below.

Net sales		$1,810
Cost of goods sold		1,509
Gross profit		301
Operating expenses		204
Profit before income tax		97
Income tax expense		29
Profit		$68

Perform a vertical analysis and calculate the percentage of the base amount for the current year. (Round percentage answers to 1 decimal place, e.g. 52.7%.)

		Income Statement
		Amount		Percent
Net sales		$enter a dollar amount		enter percentages rounded to 1 decimal place	%
Cost of goods sold		enter a dollar amount		enter percentages rounded to 1 decimal place	%
Gross profit		enter a dollar amount		enter percentages rounded to 1 decimal place	%
Operating expenses		enter a dollar amount		enter percentages rounded to 1 decimal place	%
Profit before income tax		enter a dollar amount		enter percentages rounded to 1 decimal place	%
Income tax expense		enter a dollar amount		enter percentages rounded to 1 decimal place	%
Profit		$enter a total amount		enter percentages rounded to 1 decimal place	%