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.)

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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.) Answer is not complete. FEDERER SPORTS APPAREL Income Statement For the Years Ended December 31 2022 2021 Amount Amount 19,200,000 100.0 $ 15,900,000 13,017,600 67.8 7,250,400 6,182,400 32. 2 8 ,649,600 1,708,800 8.9 1,287,900 1,094,400 5.7 1,097,100 288,000 1,612,800 365,700 1,478,400 5,898,900 537,600 2,114,700 940,800 $ 3,784,200 100.0 45.6 54.4 Net sales Cost of goods sold Gross profit Operating expenses Depreciation expense Inventory write-down Loss (litigation) Income before tax Income tax expense 8.1 Net income