Vertical analysis. ( \(L O 2\) )

Use the income statement from Color Copy to perform a vertical analysis with sales as the base.

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Color Copy Inc. Income Statement For the year ended September 30, 2007 Sales revenue Cost of goods sold Gross profit Operating expenses: Depreciation-buildings and equipment $ 100 Other selling and administrative 2,500 Total expenses Income before interest and taxes Interest expense Income before taxes Income taxes Net income $10,228 5,751 $ 4,477 2,600 $ 1,877 350 $ 1,527 150 $ 1,377