Operating data for Navarro Corporation are presented below.

2017 2016 Net sales $750,000 $600,000 Cost of goods sold Selling expenses Administrative expenses Income tax expense 465,000 105,000 60,000 36,000 390,000 66,000 54,000 27,000 63,000 Net income 84,000

Instructions

Prepare a schedule showing a vertical analysis for 2017 and 2016.

Expert Solution

Shedule Showing Vertical Analysis
	2017		2016
	Amount	Percent	Amount	Percent
Net sales	$7,50,000	100.00%	$6,00,000	100.00%
Less: Cost of goods sold	$4,65,000	62.00%	$3,90,000	65.00%
Gross Profit	$2,85,000	38.00%	$2,10,000	35.00%
Less:
Selling Expenses	$1,05,000	14.00%	$66,000	11.00%
Administrative expenses	$60,000	8.00%	$54,000	9.00%
Total Operating Expenses	$1,65,000	22.00%	$1,20,000	20.00%

Income Before Income Taxes	$1,20,000	16.00%	$90,000	15.00%
Less: Income Taxes	$36,000	4.80%	$27,000	4.50%
Net Income	$84,000	11.20%	$63,000	10.50%

Shedule Showing Vertical Analysis
	2017		2016
	Amount	Percent	Amount	Percent
Net sales	$7,50,000	100.00%	$6,00,000	100.00%
Less: Cost of goods sold	$4,65,000	62.00%	$3,90,000	65.00%

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