The Wilson Company’s Income Statements are presented below for 2011 and 2010. WILSON COMPANY Income Statements For Years Ended December 31, 2011 and 2010 2011 2010 Sales $90,000 $100,000

The Wilson Company’s Income Statements are presented below for 2011 and 2010.

WILSON COMPANY

Income Statements

For Years Ended December 31, 2011 and 2010

2011 2010

Sales $90,000 $100,000

Cost of goods sold (67,000) (75,000)

Gross profit $23,000 $ 25,000

Operating expenses (12,000) (14,000)

Income taxes (5,000) (4,000)

Income from continuing operations $ 6,000 $ 7,000

Extraordinary items (net of taxes) (2,000) 2,000

Net income $ 4,000 $ 9,000

Earnings per share $ 1.00 $ 2.25

Required: Prepare vertical analysis for 2011

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