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Selected information from the financial statements of Cake Co. appears below: 2015 2014 Net Sales $ 1,692,000 $1,600,000 Total Expenses $1,470,000 $1,520,000 Net Income $222,000

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Selected information from the financial statements of Cake Co. appears below: 2015 2014 Net Sales $ 1,692,000 $1,600,000 Total Expenses $1,470,000 $1,520,000 Net Income $222,000 $80,000 4.1. Compute the percentage change in each of the above items from 2014 to 2015. Use a + or - to indicate increase or decrease. (Show all calculations) Percentage change from 2014 to 2015 Net Sales % Total Expenses % Net Income % 4.2. Compute net income as a percentage of net sales in each year. (Round to the nearest one-tenth of 1%) (Show all calculations) % net income as a percentage of net sales for 2014 = net income as a percentage of net sales for 2015 =

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