The owners of Cyclepath Bicycle Store have asked you to prepare comparative income statements for the fiscal years ended March 31, 2016 and 2017. To aid in their analysis, the owners would also like you to provide common size information with the comparative statements (vertical analysis). They have provided an alphabetical list of account names and balances for the store on the second page. All accounts have normal balances.

Cyclepath Bicycle Store Account Balances 3/31/16 3/31/17 Accounts Payable 30,600 22,700 Accounts Receivable 25, 100 45,200 Building 162,000 166,800 Cash 7,500 12,600 Common Stock 48,000 48,000 Cost of Goods Sold 189,300 205,800 Dividends 3,000 4,000 Equipment 52,000 58,000 Gain on Sale of Land 0 4,000 Insurance Expense 9,000 10,500 Interest Expense 3,000 4,200 Interest Payable 1,000 1,600 Interest Receivable 2,000 0 Interest Revenue 2,000 400 Inventory 28,300 34,800 Land 89,000 62,000 Miscellaneous Expense 2,000 500 Notes Payable 60,000 75,000 Prepaid Insurance 8,000 9,500 Rent Expense 6,000 6,200 Retained Earnings 214,300 230,000 Salaries Expense 32,000 35,300 Salaries Payable 3,300 1,500 Sales 295,000 315,000 Sales Returns & Allowances 11,000 9,000 Shipping Expense 8,000 9,000 Supplies 4,000 6,000 Supplies Expense 9,000 11,500 Telephone Expense 4,000 4,800 Unearned Revenue 5,000 4,400 Utilities Expense 5,000 6,900