Comparative data from the income statement of Ivanhoe Corporation are shown below. 2021 2020 Net sales $841,000 $569,000 Cost of goods sold 563,470 355.625 277.530 213,375 Gross profit Operating expenses Profit before income tax 201,840 131,960 75,690 81,415 Income tax expense 18.923 20,354 Profit $56,767 $61,061 Prepare a vertical analysis for Ivanhoe Corporation (Round percentage answers to 1 decimal place, eg. 52.7%) IVANHOE CORPORATION Income Statement 2021 2020 Amount Percent Amount Percent Sales $841,000 $569.000 Cost of goods sold 563.470 % 355,625 % Gross profit 277,530 % 213,375 % Operating expenses 201,840 % 131.960 % Profit before income tax 75,690 81,415 Amount Percent Amount Percent Sales $841,000 % $569,000 % Cost of goods sold 563.470 96 355.625 % Gross profit 277,530 se 213.375 % Operating expenses 201.840 % 131.960 % Profit before income tax 75,690 % 81,415 % Income tax expense 18,923 % 20,354 % Profit $56,767 % $61,061 %