Analysis of income statement revenue and expense

Question

Response to the following problem:

Vertical Analysis of Income Statement Revenue and expense data for Rogan Technologies are as follows:

                                           2012                   2011

Sales                                 606,000                 527,000

Cost of Goods sold             333,300                 252,960

Selling Expenses                 109,080                 110,670

Administrative expenses         115,140             100,130

Income tax expense                18,180               26,350

Prepare an income statement in comparative form, stating each item for 2012 and 2011 as a percent of sales.

If required, round the percentages to one decimal place.