Problem:
Operating data is presented below:
2009 2008
Sales $750,000 $600,000
Cost of Goods Sold $465,000 $390,000
Selling Expenses $120,000 $72,000
Administrative Expenses $60,000 $54,000
Income Tax Expense $33,000 $24,000
Net Income $72,000 $60,000
Prepare a schedule showing a vertical analysis for 2009 and 2008.