Refer to the data provided in Exercise 2-39.

Required:

Prepare an income statement for Jasper Company for last year. Calculate the percentage of sales for each line item on the income statement. Round percentages to the nearest tenth of a percent.

Exercise 2-39.

Sales in units 300,000
Selling price $9
Direct materials $150,000
Direct labor $325,000
Manufacturing overhead $215,000
Selling expense $437,000
Administrative expense $854,000