2 of 3 Here are the comparative income statements of Ivanhoe Corporation. IVANHOE CORPORATION Comparative Income Statement For the Years Ended December 31 2022 2021 Net sales $612,400 $531,500 Cost of goods sold 447,500 409,400 Gross Profit 164,900 122,100 Operating expenses 78,000 49,600 Net income $86,900 $ 72,500 (a) re to search Prepare a horizontal analysis of the income statement data for Ivanhoe Co D hp Question 2 of 3 (a) -/50 Prepare a horizontal analysis of the income statement data for Ivanhoe Corporation, using 2021 as a base. (If amount and percentage are a decrease show the numbers as negative, eg. -55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, eg. 12.1%) IVANHOE CORPORATION Comparative Income Statement 2022 2021 Net sales $612,400 $531,500 $ Cost of goods sold 447,500 409,400 Gross Profit 164,900 122,100 Operating expenses 78,000 49.600 o search Increase or (Decrease) During 2022 Amount Percentage % % * 70F A 0-Project: Horizontal and Vertical Analysis Question 2 of 3 (b) -/50 E Prepare a vertical analysis of the income statement data for Ivanhoe Corporation for both years. (Round percentages to 1 decimal place. eg. 12.1%) Net sales $612,400 Cost of goods sold 447,500 Gross Profit 164,900 Operating expenses 78,000 e here to search IVANHOE CORPORATION Condensed Income Statements i 2022 Percent 2021 $ Percent % $531,500 96 % 409,400 % 122,100 %6 49,600 70F hp Question 2 of 3