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Selected data (in thousands) from the income statement of Cullumber Inc. are shown below. Net sales $1,880 Cost of goods sold 1,567 Gross profit 313

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Selected data (in thousands) from the income statement of Cullumber Inc. are shown below. Net sales $1,880 Cost of goods sold 1,567 Gross profit 313 Operating expenses 212 Profit before income tax 101 Income tax expense 30 Profit $71 Perform a vertical analysis and calculate the percentage of the base amount for the current year. (Round percentage answers to 1 decima place, e.g. 52.7%.) Income Statement Amount Percent Net sales Cost of goods sold Gross profit o Operating expenses Profit before income tax % Income tax expense % Profit %

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