E15-2 Operating data for Gallup Corporation are presented below.
 
2009                2008
 
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
 
Instructions
 
Prepare a schedule showing a vertical analysis for 2009 and 2008.
 
 
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