Question: Operating data for Navarro Corporation are presented below. 2017 2016 Net sales Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income

Operating data for Navarro Corporation are presented below. 2017 2016 Net

Operating data for Navarro Corporation are presented below. 2017 2016 Net sales Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income $745,000 460,000 115,000 55,000 28,000 87,000 $595,000 385,000 67,000 49,000 19,000 75,000 Prepare a schedule showing a vertical analysis for 2017 and 2016. (Round answers to 1 decimal place NAVARRO CORPORATION Condensed Income Statements For the Years Ended December 31 2017 2016 Amount Percent Amount Percent % $595,000 385,000 210,000 67,000 49,000 Net sales $745,000 460,000 285,000 115,000 55,000 Cost of goods sold Gross proft Selling expenses Administrative expenses Total operating expenses 170,000 Income before income taxes 115,000 Income taxes expense Net income % 116,000 94,000 % 19,000 % $75,000 28,000 $87,000

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