Exercise 12-2A Prepare vertical analysis (L012-1) The income statements for Federer Sports Apparel for 2022 and 2021 are presented below. Required: Prepare a vertical analysis of the data for 2022 and 2021. (Round your percentage answers to 1 decimal place.) 2021 Amount % Net sales Cost of goods sold Gross profit Operating expenses Depreciation expense Inventory write-down Loss (litigation) Income before tax FEDERER SPORTS APPAREL Income Statement For the Years Ended December 31 2022 Amount $ 19,800,000 100.0 $ 12,711,600 7,088,400 1,881,000 1,247.400 415,800 1,782,000 1.762,200 673.200 $ 1,089.000 $ 16,500,000 7,623,000 8,877,000 1.435,500 1.237.500 0 231,000 5.973,000 2,293,500 3,679,500 Income tax expense Net Income