Express the Following Income Statement Information in Common-Size Percentages (Round $\begin{array}{ll|l|l} & & 2018 & 2017 \\\hline \text { Sales } & 103 & \$ 1,200,000 & \$ 1,000,000\end{array}$

Essay

Express the following income statement information in common-size percentages (round to nearest whole percent). Comment on the results.
Haans Corp.
Comparative Income Statements
For Years Ended December 31, 2018 and 2017
$\begin{array}{ll|l|l} & & 2018 & 2017 \\\hline \text { Sales } & 103 & \$ 1,200,000 & \$ 1,000,000\end{array}$
$$\begin{array} { | l | c | c | } \hline \text { Sales } & \$ 1,200,000 & \$ 1,000,000 \\\hline \text { Cost of goods sold } & 804,000 & 6 5 0 , 0 0 0\\\hline \text { Grost profit } & \$ 396,000 & \$ 350,000 \\\hline \text { Selling expentes } & 132,000 & 120,000 \\\hline \text { Adrinistrative expenses } & 180,000 & 150,000 \\\hline \text { Net income } & \$ 84,000 & \$ 80,000 \\\hline\end{array}$$