Revenue and expense data for Reuters Company are as follows:

2017 2016

Administrative expenses $24,750 $18,000

Cost of goods sold $500,000 $375,000

Income tax expense $11,600 $12,000

Net sales $750,000 $600,000

Selling expenses $182,250 $154,800

Prepare a comparative income statement, with vertical analysis, stating each item for both 2017 and 2016 as a percent of sales. Round percentage values to one decimal place and state as a whole number. Do not enter the percent sign. (For example, enter .9569 as "95.7").

Reuters Company Comparative Income Statement For Years Ended December 31, 2017 and 2016.

Amount 2017 Percent (%) Amount 2016 Percent (%)

Net sales

Cost of goods sold

Gross profit

Selling expenses

Administrative expenses

Total operating expenses

Income before income tax

Income tax expense

Net income

Please show me how to calculate each percent for each year.