Please Complete the Vertical Analysis of the Income Statement Data

Essay

Please complete the vertical analysis of the income statement data shown on the form below:
$$\begin{array} { | l | r | r | } \hline \text { Dollar amounts in millions) } & { \mathbf { 2 0 1 4 } } \\\hline \text { Revenues } & \text { Amount } & \text { \% of total } \\\hline \text { Cost of revenues } & \$ 6,355 & \\\hline \text { Gross profit } & 2,370 & \\\hline \text { Operating expenses: } & & \\\hline \text { Sales and marketing expense } & 675 & \\\hline \text { General and administrative expense } & 410 & \\\hline \text { Research and development expense } & 470 & \\\hline \text { Other expense } & 400 & \\\hline \text { Total operating expenses } & \$ 1,955 & \\\hline & & \\\hline \text { Income before income tax } & \$ 1,030 & \\\hline \text { Income tax expense } & 230 & \\\hline \text { Net income (loss) } & \$ 800 & \\\hline\end{array}$$