Operating data for Jacobs Corporation are presented below. 2014 2013 Prepare a s

Question

Operating data for Jacobs Corporation are presented below.

2014

2013

Prepare a schedule showing a vertical analysis for 2014 and 2013. (Round percentages to 1 decimal place, e.g. 12.1%.)

JACOBS CORPORATION
Condensed Income Statement
For the Years Ended December 31

2014

2013

Amount

Percent

Amount

Percent

Sales

$834,300

%

$647,500

%

Cost of goods sold

528,200

%

410,700

%

Gross profit

306,100

%

236,800

%

Selling expenses

128,000

%

78,100

%

Administrative expenses

74,800

%

54,800

%

Total operating expenses

202,800

%

132,900

%

Income before income taxes

103,300

%

103,900

%

Income tax expense

38,200

%

26,000

%

Net income

$ 65,100

%

$ 77,900

%

2014

2013

Sales revenue $834,300 $647,500 Cost of goods sold 528,200 410,700 Selling expenses 128,000 78,100 Administrative expenses 74,800 54,800 Income tax expense 38,200 26,000 Net income 65,100 77,900

Explanation / Answer

2014 2013 Amount Percent Amount Percent Sales 834300 100.0% 647500 100.0% Cost of goods sold 528200 63.3% 410700 63.4% Gross profit 306100 36.7% 236800 36.6% Selling expenses 128000 15.3% 78100 12.1% Administrative expenses 74800 9.0% 74800 11.6% Total operating expenses 202800 24.3% 152900 23.6% Income before income taxes 103300 12.4% 103900 16.0% Income tax expense 38200 4.6% 26000 4.0% Net income 65100 7.8% 77900 12.0%

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