1. Complete a vertical analysis on the income statements

VIRTUAL GAMING SYSTEMS
Income Statements
For the Years Ended December 31
	2025	2024
Net sales	$ 3,560,000	$ 3,086,000
Cost of goods sold	2,490,000	1,960,000
Gross profit	1,070,000	1,126,000
Expenses:
Operating expenses	965,000	868,000
Depreciation expense	40,000	32,000
Loss on sale of land	0	9,000
Interest expense	23,000	20,000
Income tax expense	9,000	58,000
Total expenses	1,037,000	987,000
Net income	$ 33,000	$ 139,000