Exercise 18-2 Operating data for Navarro Corporation are presented below.

2017

Net sales $747,500

Cost of Goods sold 469,000

Selling expenses 120,500

Administrative expenses 64,000 Income tax expense 29,000

Net income 65,000

2016

Net sales $604,500

Cost of Goods sold 392,000

Selling expenses 71,000

Administrative expenses 50,000 Income tax expense 20,500

Net income 71,000

Prepare a schedule showing a vertical analysis for 2017 and 2016. (Round answers to 1 decimal place, e.g. 48.5%.) NAVARRO CORPORATION

Condensed Income Statements

For the Years Ended December 31