From the French Instrument Corporation second-quarter report ended 2018, do a vertical analysis for the second quarter of 2018. (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.) Percent of net FRENCH INSTRUMENT CORPORATION AND SUBSIDIARIES Consolidated Statements of Operation (Unaudited) (In thousands of dollars, except share data) Second Quarter 2018 2017 Net sales $ 6,754 $ 7,007 Cost of sales 4,097 4,470 Gross margin 2,657 2.537 Expenses: Selling, general and administrative 1,853 1,791 Product development 183 173 Interest expense 106 131 Other (income), net (164) (91) Total expenses 1,978 2,004 Income before income taxes 679 533 Provision for income taxes 273 217 Net income $ 406 $ 316 Net income per common share* 0.05 $ 0.03 Weighted average number of common shares and equivalents 6,673,673 6,624,184 GA *Income per common share reflects the deduction of the preferred stock dividend from net income