THORNTON COMPANY Vertical Analysis of Income Statements 2019 Amount Percentage of Sales 2018 Percentage of Percentage of Amount Amount Sales Revenues % olo $ 230,400 8,200 238,600 $ 210,800 5,600 216,400 Sales (net) Other revenues Total revenues Expenses Cost of goods sold Selling, general, and administrative expense 102,000 48,900 Interest expense 5,400 119,500 54,300 6,200 21,200 201,200 37,400 Income tax expense Total expenses 20,200 176,500 39,900 Net income $ % $ O