Selected data (in thousands) from the income statement of Ivanhoe Inc. are shown below of Net sales $1,780 Cost of goods sold 1476 Gross prot 304 Operating expenses 198 Profit before income tax 106 Income tax expense 32 Profit for the year $74 Perform a vertical analysis and calculate the percentage of the base amount for the current year. (Enter amounts in thousands Round percentage answers to 1 decimal place, eg 52.7%) Net sales Cost of goods sold Gross profit Operating expenses Profit before income tax Income tax expense Income Statement Amount Percent Proht before income tax 106 Income tax expense 32 Profit for the year $74 Perform a vertical analysis and calculate the percentage of the base amount for the current year (Enter amounts in thousands Round percentage answers to 1 decimal place, eg 52.7%) Net sales Cost of goods sold Gross pront Operating expenses Profit before income tax Income tax expense Profit for the year Income Statement Amount Percent % eTextbook and Media Attempts: 0 of 3used Submit Answer