Exercise 12-2A Prepare vertical analysis (LO12-1) 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 % FEDERER SPORTS APPAREL Income Statement For the Years Ended December 31 2022 Amount % $ 18,500,000 $ 13,320,000 5,180,000 1,517,000 925,000 148,000 1,424,500 1,165,500 388,500 $ 777,000 $ Net sales Cost of goods sold Gross profit Operating expenses Depreciation expense Inventory write-down Loss (litigation) Income before tax Income tax expense Net income 15,200,000 6,824,800 8,375,200 1,124,800 942,400 0 334,400 5,973,600 1,915,200 4,058,400