Use the following income statement from Prism orinting to perform a verticle analysis with sale as the base.
Income Statement
For the year ended September 30, 2011
Sales revenue $9,500
Cost of goods sold 2,780
Gross profit 6,720
Operating expense $0
Deprec. buildings&equip 250.00
Other selling&administrative 1,000
Total expenses 1,250
Income before interest&taxes 5,470
Interest expense 750
Interest before taxes 4,720
Income taxes 300
Net income 4,420