(22 marks) Question 2 Analysis and Interpretation of financial statements The financial information for Forrester Ltd is provided below: 2019 2018 Sales Cost of sales Gross profit Selling expenses Administrative expenses Total operating expenses Profit before income tax Income tax expense Profit for the period $1,320,000 778.500 541.500 198,000 120,000 318.000 223,500 57600 $165.900 $900,000 585.000 315.000 108,000 81,000 189,000 126,000 37.800 $88.200 Required: 1. Prepare a vertical analysis for 2019 and 2018 using the template provided. Round the percentages to 2 decimal places. (18 marks) # 2019 Amount Percent 2018 Amount Percent Sales Cost of sales Gross profit Selling expenses Administrative expenses Total operating expenses Profit before income tax Income tax expense Profit for the period $1,320,000 778,500 541,500 198,000 120,000 318,000 223,500 57600 $165.900 $900,000 585,000 315.000 108,000 81,000 189.000 126,000 37.800 $88.200