Vision, Inc.s comparative income statements follow. Compute the amount and percentage charges for the income statements, and comment on the changes from 2013 to 2014. (Round the percentage changes to one decimal place.)

Vision, Inc.

Comparative income statements

For the Years Ended December 31, 2014 and 2013

2014 2013

Net Sales 360,000 290,000

Cost of good Sold 224,000 176,000

Gross Margin 136,000 114,000

Operating expenses 80,000 60,000

Operating Income 56,000 54,000

Interest Expense 14,000 10,000

Income before income taxes 42,000 44,000

Income taxes expense 14,000 16,000

Net income 28,000 28,000

Earnings per share 2.80 2.80