Aa Aa E 4. Vertical analysis: income statement A vertical analysis of the income statement presents all statement amounts as percentages of net sales. This type of analysis provides for common-sized comparisons between companies and for year-to-year comparisons for one Company. Wiston Co.'s income statements for the years ending December 31, 2013, and December 31, 2012 are presented. Fill in the vertical analysis on Wiston Co.'s comparative income statement. Round all percentages to one decimal point (for example, 47.85% 47.9%) Wiston Co. Comparative Income Statement For the Years Ending December 31, 2013 and 2012 2012 2013 Amount Percent Amount Percent Net sales $16,500 100.0% $15,000 100.0% 6,750 6,700 Cost of goods sold $9,800 $8,250 Gross profit $1,650 $1,500 Administrative expenses Selling expenses 4,125 2,250 Research and development expenses 3,300 3,000 $9,075 $6,750 Total operating expenses Income before interest and income tax $725 $1,500 Interest expense 375 225 Income before income tax $350 $1,275 Income tax expense 100 400 $250 $875 Net income