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Problem 1: (10 points) Prepare a vertical analysis of the income statement shown below. (Round to two decimal places.) Trucker, Inc. Income Statement For the

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Problem 1: (10 points) Prepare a vertical analysis of the income statement shown below. (Round to two decimal places.) Trucker, Inc. Income Statement For the Year Ended December 31, 2017 $7,000 3,800 3,200 Net Sales Cost of Goods Sold Gross Profit Operating Expenses Selling Expenses Administrative Expenses rotal Operating Expenses Operating Income Other Revenues and (Expenses): Interest Revenue Interest Expense Total Revenues and (Expenses) Income Before Income Taxes Income Tax Expense Net Income 950 670 1,620 1,580 (750) (750) 830 150 $680

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