Poseidon Corporation
2007 2006
Sales $800,000 $600,000
Cost of goods sold 500,000 408,000
Selling expenses 120,000 72,000
Administrative expense 72,000 48,000
Income tax expense 32,000 21,600
Net income 76,000 50,400
Prepare a schedule showing a vertical analysis for 2007 and 2006.
