DELANEY CORPORATION Comparative Income Statement Increase or (Decrease) During 2022 2022 2021 Amount Percentage Net sales $598,000 $500.000 $ % Cost of goods sold 477,000 420,000 % Gross profit 121,000 80,000 % Operating expenses 80.000 44,000 % Net income $ 41,000 $36,000 $ % (b) Prepare a vertical analysis of the income statement data for Delaney Corporation for both years. (Round percentages to 1 decimal place, e.g. 12.1%.) DELANEY CORPORATION Condensed Income Statements 2022 2021 Percent Percent Net sales $598,000 % $500,000 % Cost of goods sold 477,000 % 420,000 % Gross profit 121,000 % 80,000 % Operating expenses 80,000 % 44,000 % Net income $ 41,000 % $36.000 % Here are the comparative income statements of Delaney Corporation. DELANEY CORPORATION Comparative Income Statement For the Years Ended December 31 2022 2021 Net sales $598,000 $500,000 477,000 420,000 Cost of goods sold Gross profit 121,000 80,000 Operating expenses 80,000 44,000 Net income $ 41,000 $ 36,000 (a) Prepare a horizontal analysis of the income statement data for Delaney Corporation, using 2021 as a base. (If amount and percentage are a decrease show the numbers as negative, e.g.-55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, e.g. 12.1%.) DELANEY CORPORATION Comparative Income Statement Increase or (Decrease) During 2022 2022 2021 Amount Percentage Net sales $598,000 $500,000 $ % Cost of goods sold 477,000 420,000 % Gross profit 121,000 80,000 % Operating expenses 80,000 44,000 % Net income $ 41,000 $36,000 $ % (b) Prepare a vertical analysis of the income statement data for Delaney Corporation for both years. (Round percentages to 1 decimal place, e.g. 12.1%.)