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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