(Answered) Operating data for jacobs corporation are presented below

Accounting

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	%

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