D. Ennis Inc. Partial Income Statement (Vertical analysis) For the years ended December 31, 2018 and 2017 2018 2017 $478,000 306,000 172,000 $430,000 251,000 179,000 Sales Cost of goods sold Gross margin Expenses Depreciation expense Other operating expenses Total operating expenses Operating income 37,000 104,000 141,000 31,000 51,000 86,000 137,000 42,000