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Exercise 182 Your answer is partially correct. Try again. Operating data for Navarro Corporation are presented below. 2015 Net sales 2014 $749,040 $602,740 Cost of goods sold 469,360 389,220 Selling expenses 119,820 67,030 Administrative expenses 57,350 51,810 Income tax expense 36,320 21,010 Net income 66,190 73,670 Prepare a schedule showing a vertical analysis for 2015 and 2014. (Round answers to 1 decimal place, e.g. 48.5%.) NAVARRO CORPORATION Condensed Income Statements For the Years Ended December 31 2015 Amount 2014 Percent Amount Percent $749,040 % $602,740 % Cost of goods sold 469,360 % 389,220 % Gross profit 279,680 % 213,520 % Selling expenses 119,820 % 67,030 % Administrative expenses 57,350 % 51,810 % Total operating expenses 177,170 % 118,840 % Net sales Income before income taxes Income taxes expense Net income Link to Text 102,510 % 94,680 % 36,320 % 21,010 % $66,190 % $73,670 %