Complete the vertical analysis below. (Round percentages to the nearest tenth percent, X.X%.) Karroll Corp. Income Statement (adapted) For the Year Ended November 30, 2020 Amount Percent Net sales $ 311,075 % 148.900 Cost of goods sold Gross argin 162,175 107,060 Selling, general, and administrative expenses Income from operations 55. 115 20.835 Income tax expense $ 34,280 Net income Are selling, general, and admininstrative expenses in line with the industry average of 37 percent? Karroll Corp. mer Income Statement Na For the Year Ended November 30, 2020 Net sales $ 311,075 Cost of goods sold 148.900 Gross margin 162,175 Selling, general, and administrative expenses 107,060 Income from operations 55,115 20,835 Income tax expense $ Net income 34,280