Operating data for Navarro Corporation are presented below 01 Net sales Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income $755,000 463,500 124,000 59,000 32,000 76,500 $599,500 392,000 77,000 56,000 23,500 51,000 Prepare a schedule showing a vertical analysis for 2017 and 2016. (Round percentages to 1 decimal place, e.g. 12.3%.) Prepare a schedule showing a vertical analysis for 2017 and 2016. (Round percentages to 1 decimal place, e.g. 12.3%.) NAVARRO CORPORATION Condensed Income Statements 2017 2016 Amount $755,000 463,500 291,500 124,000 59,000 183,000 Income before income taxes 108,500 32,000 $76,500 Percent Amount % $599,500 % 392,000 % 207,500 77,000 56,000 % 133,000 74,500 23,500 %$51,000 Percent Net sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Income tax expense Net income