Q #2

Express the following income statement information in common-size percents (round to nearest whole percent). Comment on the results.

Thorsten Corp. Comparative Income Statements For Years Ended December 31, 2014 and 2013
	2014	2013
Sales............................................................	$1,200,000	$1,000,000
Cost of goods sold.............................................................	804,000	650,000
Gross profit...........................................................	$ 396,000	$ 350,000
Selling expenses.....................................................	132,000	120,000
Administrative expenses.....................................................	180,000	150,000
Net income........................................................	$ 84,000	$ 80,000