Operating data for Gallup Corporation are presented below.

		2012		2011
	Sales	$750,000		$600,000
	Cost of goods sold	465,000		390,000
	Selling expenses	120,000		72,000
	Administrative expenses	60,000		54,000
	Income tax expense	33,000		24,000
	Net income	72,000		60,000

Prepare a schedule showing a vertical analysis for 2012 and 2011. (Round percentages to 1 decimal place, e.g. 10.5%. Enter all amounts as positive amounts and subtract where necessary.)

GALLUP CORPORATION
Condensed Income Statements
For the Years Ended December 31
	2012		2011
	Amount	Percentage	Amount	Percentage
Sales	$	%	$	%
Cost of goods sold		%		%
Gross profit		%		%
Selling expenses		%		%
Administrative expenses		%		%
Total operating expenses		%		%
Income before income taxes		%		%
Income tax expense		%		%
Net income	$	%	$	%

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