From the French Instrument Corporation second-quarter report ended 2017, do a vertical analysis for the second quarter of 2017. (Input all answers as positive values except other (income) which should be indicated by a minus sign. Round your answers to the nearest hundredth percent.) FRENCH INSTRUMENT CORPORATION AND SUBSIDIARIES Consolidated Statements of Operation (Unaudited) (In thousands of dollars, except share data) SECOND QUARTER 2017 2016 Percent of net Net sales $ 6,796 $ 7,049 Cost of sales 4,103 4,476 Gross margin 2,693 2,573 Expenses: Selling, general and administrative 1,859 1,797 Product development 189 179 Interest expense 112 137 Other (income), net (158) (85) Total expenses 2,002 2,028 Income before income taxes 691 545 Provision for income taxes 279 223 Net income $ 412 $ 322 Net income per common share* $ 0.05 $ 0.03 Weighted average number of common shares and equivalents 6,673,673 6,624,184