Gavette Company reported the following information for the current year and prior year:

Account Current year Percentage Prior year

Net sales revenue $367,200 100% $300,000

COGS $220,320 60.00% $240,000

Gross Profit $146,880 40.00% $60,000

Selling/General Exp. $69,768 19.00% $12,000

Net income before tax $77,112 ? $48,000

Income Tax $11,344 ? $3,000

Net Income $65,768 17.91% $45,000

What would a vertical analysis report with respect to current year net income before income tax and income tax expense?

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