2017 Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense $800,000 480,000 120,000 80,000 24,000 96,000 2016 $600,000 390,000 78,000 54,000 25,000 53,000 Net income Prepare a schedule showing a vertical analysis for 2017 and 2016. (Round PANOLA LAND COMPANY Condensed Income Statement For the Years Ended December 31 2017 Amount Percent % $ SUL ge ans decima PANOLA LAND COMPANY Condensed Income Statement For the Years Ended December 31 2017 Amount Percent 2016 Percent Amount % % % % % % % % % % % % V % % % % % % $ Click if you would like to Show Work for this question: Open Show Work