Make a vertical analysis report of the income statement for Kapral's Cigars shown below. Round off the percentages to two decimal places.

2015

Net Sales$7,000

Cost of Goods Sold3,800

Gross Profit$3,200

Operating Expenses:

Selling Expenses$950

Administrative expenses 670

Total Expenses $1,620

Operating Income $1,580

Other Revenues and (Expenses):

Interest Revenue0

Interest Expense(750)

Total Revenues and (Expenses) ($750)

Income Before Taxes$830

Income Tax Expense150

Net Income$680