13.7 Chapter Protection Limited is a security firm. Its profit and loss account for the year ending 31 December 20X2 is as follows:

£

Turnover 188 703 Cost of sales

(115 863)

Gross profit 72 840 Administrative expenses

(14260)

Distribution and selling costs

(20 180)

Operating profit 38400 Interest payable and similar charges

(1 200)

Profit on ordinary activities before taxation 37 200 Taxation

(7 450)

Profit on ordinary activities after taxation 29 750 Dividends

(10 000)

Retained profit for the year 19750 You are required to prepare a vertical analysis statement of Chapter Protection's profit and loss account on the basis that the sales figure is 100%.