Exercise 13-04 Operating data for Ayayal Corp. are presented below. 2022 2021 Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income $836,700 521,400 126,900 78,800 35,100 74,500 $650,500 409,700 75,800 51,500 25,600 87,900 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decima AYAYAI CORP. Condensed Income Statement 2022 2021 Amount Percent Amount Percent Sales $836,700 % $650,500 % Cost of goods sold 521,400 % 409,700 % Gross profit 315,300 % 240,800 % Selling expenses 126,900 % 75,800 % Administrative expenses 78,800 % 51,500 % Total operating expenses 205,700 % 127,300 % Income before income taxes 109,600 % 113,500 % Income tax expense 35,100 % 25,600 % Net income $ 74,500 % $ 87,900 % Click if you would like to Show Work for this question: Open Show Work