Exercise 13-6 Here are the comparative income statements of Indigo Corporation For the Years Ended Decenmber 31 2017 2016 Net ales Cost of goods sold Gross Profit Operatng epenses Net ncome $621,600 450,400 171,200 0,300 100,900 $541,200 439,700 101,500 42,500 59,000 Prepare a honzan a ana ysis of the Income statement data for Indigo Corporation, using place, e.g. 12.196.) 016 as a base 1 amount are percentage are decrna e show the numbers as negative, e g 55 000 20 55 000 20% Round percentages to 1 or INDIGO CORPORATION Increase or (Decrease) During 2017 2017 2016 Amount Percentage Net sales $621,600 541,200 Cost of goods sold 450,400 439,700 171,200 101,500 Operating expenses70,300 12,500 100,90059,000 Gross Proft Net income Prepare a vertical analysis of the income statement data for Indigo Corporation for both years. (Round percentages to 1 decimal place, eg. 12.1%.) INDIGO CORPORATION Condensed Income Statements 2017 2016 Percent $621,600 Net sales Cost of goods sold 450,400 Gross Profit Operating expenses 70,300 Net income Click if you would like to Show Work for this question: % $541,200 % 439,700 |% 101,500 |% 42,500 % $59,000 171,200 100,900 Open Show Work