Operating data for Jacobs Corporation are presented below.
| 2014 |
2013 |
| Sales revenue |
$800,000 |
$600,000 |
| Cost of goods sold |
520,000 |
408,000 |
| Selling expenses |
120,000 |
72,000 |
| Administrative expenses |
60,000 |
48,000 |
| Income tax expense |
30,000 |
24,000 |
| Net income |
70,000 |
48,000 |
Prepare a schedule showing a vertical analysis for 2014 and 2013. (Round percentages to 1 decimal place, e.g. 12.1%.)
JACOBS CORPORATION
Condensed Income Statement
For the Years Ended December 31 |
| 2014 |
2013 |
| Amount |
Percent |
Amount |
Percent |
| Sales |
$800,000 |
|
% |
$600,000 |
|
% |
| Cost of goods sold |
520,000 |
|
% |
408,000 |
|
% |
| Gross profit |
280,000 |
|
% |
192,000 |
|
% |
| Selling expenses |
120,000 |
|
% |
72,000 |
|
% |
| Administrative expenses |
60,000 |
|
% |
48,000 |
|
% |
| Total operating expenses |
180,000 |
|
% |
120,000 |
|
% |
| Income before income taxes |
100,000 |
|
% |
72,000 |
|
% |
| Income tax expense |
30,000 |
|
% |
24,000 |
|
% |
| Net income |
mce_markernbsp;70,000 |
|
% |
mce_markernbsp;48,000 |
|
% |