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.) Net sales Cost of sales FRENCH INSTRUMENT CORPORATION AND SUBSIDIARIES Consolidated Statements of Operation (Unaudited) (In thousands of dollars, except share data) Second Quarter 2018 2017 Percent of net $ 6,740 $ 6,993 4,095 4,468 2,645 2,525 Gross margin Expenses: Selling, general and administrative Product development 1,851 1,789 181 171 Interest expense 104 129 Other (income), net Total expenses (166) (93) 1,970 1,996 Income before income taxes 675 529 Provision for income taxes 271 215 Net income $ 404 $ 314 Net income per common share* $ 0.05 $ 0.03 Weighted average number of common shares and equivalents 6,673,673 6,624,184