1. Use the following selected information from Tulip, Co.

	Year 2	Year 1
Net sales	$ 276,200	$ 231,400
Cost of goods sold	151,910	129,584
Operating expenses	55,240	53,240
Net earnings	27,820	19,820

1. Determine the Year 1 and Year 2 common size percentages for each component of the income statements. (SHOW WORK)

2. Prepare a circle graph to display the results of your calculations for Year 2.