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    Preparing a Vertical Analysis of an Income statement.

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    Operating data is 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

    Prepare a schedule showing a vertical analysis for 2009 and 2008.

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