Managerial Accounting: E14-2 Operating data for Gallup Corporation are presented below

Managerial Accounting

E14-2
Operating data for Gallup Corporation are presented below.
2012 2011
Sales 750,000 600,000
Cost of goods sold 465,000 390,000
Selling expenses 120,000 72,000
Administrative expenses 60,000 54,000
Income tax expense 33,000 24,000
Net income $72,000 $60,000

Complete the schedule showing a vertical analysis for 2012 and 2011. (List amounts from largest to smallest e.g. 10, 5, 3, 2. Round percentages to 1 decimal place, e.g. 10.5. Enter all amounts as positive amounts and subtract where necessary.)
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