PRIN Exercise 9-4 Operating data for Pina Colada Corp. are presented below. 2016 Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income 2017 $850,900 527,000 125,300 73,100 37,100 88,400 $622,200 414,200 73,200 50,300 23,000 61,500 Prepare a schedule showing a vertical analysis for 2017 and 2016. (Round percentages to 1 decimal place, e.g. 12.1%.) PINA COLADA CORP. Condensed Income Statement 2017 2016 Amount Percent Amount Percent Sales $850,900 % $622,200 % Cost of goods sold 527,000 % 414,200 % Gross profit 323,900 % 208,000 % Selling expenses 125,300 % 73,200 % Administrative expenses 73,100 % 50,300 % Total operating expenses 198,400 % 123,500 % LATOR PRINTER PINA COLADA CORP. Condensed Income Statement 2016 2017 Percent Amount Amount Percent Sales $850,900 % $622,200 % Cost of goods sold 527,000 % 414,200 % Gross profit 323,900 % 208,000 % Selling expenses 125,300 % 73,200 % Administrative expenses 73,100 % 50,300 % Total operating expenses 198,400 % 123,500 % Income before income taxes 125,500 % 84,500 % Income tax expense 37,100 % 23,000 % Net Income $ 88,400 % $ 61,500 % Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT VIDEO: APPLIED SKILLS Question Attempts: 0 of 3 used