M13-2 Refer to M13-1 . Perform the calculations needed for vertical analyses.

Refer to M13-1 . Perform the calculations needed for vertical analyses.  Round percentages to one decimal place.

            2013          % change2012           % change

            Amounts               Amounts

Net Sales $100,000.00             $75,000.00

Cost of Goods Sold   $58,000.00                 $45,000.00

Gross Profit    $42,000.00                     $30,000.00

Selling, General, and Administrative Expenses  $9,000.00 $4,500.00    

Income from Operations$33,000.00             $25,500.00 

Interest Expense $3,000.00           $3,750.00

Income before Income Tax  $30,000.00         $21,750.00

Income Tax Expense $9,000.00           $6,525.00

Net Income $21,000.00          $15,225.00