Express the following income statement information in common-size percent"s and assess whether this company"s situation is favorable or unfavorable.
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HARBISON CORPORATION
Comparative Income Statement
For Years Ended December 31, 2006 and 2005
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2006
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2005
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Sales
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$720,000
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$535,000
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Cost of goods sold
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475,200
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280,340
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Gross profit
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244,800
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254,660
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Operating expenses
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151,200
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103,790
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Net income
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$ 93,600
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$150,870
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