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13-6. From the French Instrument Corporation second-quarter report ended 2018, do a vertical analysis for...

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13-6. From the French Instrument Corporation second-quarter report ended 2018, do a vertical analysis for the second quarter of 2018. LU 13-22) Percent of net FRENCH INSTRUMENT CORPORATION AND SUBSIDIARIES Consolidated Statements of Operation (Unaudited) (In thousands of dollars, except share data) SECOND QUARTER 2018 2017 Net sales $6,698 $6,951 Cost of sales 4,089 4,462 Gross margin 2,609 2,489 Expenses: Selling, general and administrative 1,845 1,783 Product development 175 165 Interest expense 98 123 Other (income), net (172) (99) Total expenses 1,946 1,972 Income before income taxes 663 517 265 209 Provision for income taxes Net income $398 $308 Net income per common share* $.05 $.03 Weighted average number of common shares and equivalents 6,673,673 6,624,184 Income per common share reflects the deduction of the preferred stock dividend from net income

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