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Stockton Co. prepared its income statement containing the information below. Using vertical analysis, what percentages would apply to cost of sales, gross profit, and interest

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Stockton Co. prepared its income statement containing the information below. Using vertical analysis, what percentages would apply to cost of sales, gross profit, and interest expense, respectively? Net Sales Revenue Cost of Sales Gross Profit Operating and Other Expenses Interest Expense Income Tax Expense Net Income $667,000 458,000 209,000 97,500 41,500 40,000 $ 30,000 Interest Expense Gross Profit 100.0 Cost of Sales 71 52.3% 100.0% 68.73

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