Question: Operating data for Navarro Corporation are presented below. 2015 2014 Net sales $746,110 $600,790 Cost of goods sold $465,120 $394,710 Selling expenses $123,740 $75,760 Administrative

Operating data for Navarro Corporation are presented below.

2015 2014
Net sales $746,110 $600,790
Cost of goods sold $465,120 $394,710
Selling expenses $123,740 $75,760
Administrative expenses $57,600 $51,470
Income tax expense $35,710 $21,760
Net income $63,940 $57,090

Prepare a schedule showing a verticle analysis for 2015 and 2014. (Round answers to 1 decimal place).

2015 2014
Amount Percent Amount Percent
Net Sales $746,110 $600,790
Cost of goods sold $465,120 $394,710
Gross profit $280,990 $206,080
Selling expenses $123,740 $75,760
Administrative expenses $57,600 $51,470
Total operating expenses $181,340 $127,230
Income before income taxes $99,650 $78,850
Income expenses $35,710 $21,760
Net income $63,940 $57,090

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