2020 SIPACORE CORPORATION Vertical Analysis of Statement of Income 2021 Amount Percent Amount $798,000 100 % $599,001 Percent Sales 100 Cost of goods sold 546,630 69 96 373,177 62 56 * 38 Gross profit 251,370 32 225,823 20 155,610 123,993 21 Operating expenses % % 17 12 101.830 95.760 95 Income before income tax G 2 56 4 20.965 Income tax expense 12.768 14 10 16 $80.865 Net income $82.992 e Textbook and Media Attamento i to search com Maps NWERBESTE Flare CS News YouTube Translate General Questions ... Photo - Google Ph... Structure and Funct ignment #11 - Chapter 14 Certificate Simarit.is Question 7 of 7