Here are comparative financial statement data for Concord Company and Tammy Company, two competitors. All data are as of December 31, 2022, and December 31, 2021.

		Concord Company				Tammy Company
		2022		2021		2022		2021
Net sales		$1,830,000				$559,000
Cost of goods sold		1,099,830				296,829
Operating expenses		269,010				78,260
Interest expense		7,320				3,913
Income tax expense		54,900				6,149
Current assets		323,000		$312,700		83,200		$79,200
Plant assets (net)		519,300		500,600		139,200		124,200
Current liabilities		65,200		75,200		36,800		28,600
Long-term liabilities		108,000		90,000		29,800		26,000
Common stock, $10 par		500,000		500,000		117,000		117,000
Retained earnings		169,100		148,100		38,800		31,800

(a)

Prepare a vertical analysis of the 2022 income statement data for Concord Company and Tammy Company. (Round percentages to 1 decimal place, e.g. 12.1%.)

Condensed Income Statement choose the accounting period For the Quarter Ended December 31, 2022For the Year Ended December 31, 2022December 31, 2022
	Concord Company				Tammy Company
	Dollars		Percent		Dollars		Percent
select an income statement item Cost of Goods SoldDividendsExpensesGross ProfitIncome Before Income TaxesIncome From OperationsIncome Tax ExpenseInterest ExpenseNet Income / (Loss)Net SalesOperating ExpensesOther Expenses and LossesRevenuesTotal ExpensesTotal Revenues	$enter a dollar amount		enter percentages rounded to 1 decimal place %		$enter a dollar amount		enter percentages rounded to 1 decimal place %
select an income statement item Cost of Goods SoldDividendsExpensesGross ProfitIncome Before Income TaxesIncome From OperationsIncome Tax ExpenseInterest ExpenseNet Income / (Loss)Net SalesOperating ExpensesOther Expenses and LossesRevenuesTotal ExpensesTotal Revenues	enter a dollar amount		enter percentages rounded to 1 decimal place %		enter a dollar amount		enter percentages rounded to 1 decimal place %
select a summarizing line for the first part Cost of Goods SoldDividendsExpensesGross ProfitIncome Before Income TaxesIncome From OperationsIncome Tax ExpenseInterest ExpenseNet Income / (Loss)Net SalesOperating ExpensesOther Expenses and LossesRevenuesTotal ExpensesTotal Revenues	enter a total amount for the first part		enter percentages rounded to 1 decimal place %		enter a total amount for the first part		enter percentages rounded to 1 decimal place %
select an income statement item Cost of Goods SoldDividendsExpensesGross ProfitIncome Before Income TaxesIncome From OperationsIncome Tax ExpenseInterest ExpenseNet Income / (Loss)Net SalesOperating ExpensesOther Expenses and LossesRevenuesTotal ExpensesTotal Revenues	enter a dollar amount		enter percentages rounded to 1 decimal place %		enter a dollar amount		enter percentages rounded to 1 decimal place %
select a summarizing line for the second part Cost of Goods SoldDividendsExpensesGross ProfitIncome Before Income TaxesIncome From OperationsIncome Tax ExpenseInterest ExpenseNet Income / (Loss)Net SalesOperating ExpensesOther Expenses and LossesRevenuesTotal ExpensesTotal Revenues	enter a total amount for the second part		enter percentages rounded to 1 decimal place %		enter a total amount for the second part		enter percentages rounded to 1 decimal place %
select an opening section name Cost of Goods SoldDividendsExpensesGross ProfitIncome Before Income TaxesIncome From OperationsIncome Tax ExpenseInterest ExpenseNet Income / (Loss)Net SalesOperating ExpensesOther Expenses and LossesRevenuesTotal ExpensesTotal Revenues
select an income statement item Cost of Goods SoldDividendsExpensesGross ProfitIncome Before Income TaxesIncome From OperationsIncome Tax ExpenseInterest ExpenseNet Income / (Loss)Net SalesOperating ExpensesOther Expenses and LossesRevenuesTotal ExpensesTotal Revenues	enter a dollar amount		enter percentages rounded to 1 decimal place %		enter a dollar amount		enter percentages rounded to 1 decimal place %
select a summarizing line for the third part Cost of Goods SoldDividendsExpensesGross ProfitIncome Before Income TaxesIncome From OperationsIncome Tax ExpenseInterest ExpenseNet Income / (Loss)Net SalesOperating ExpensesOther Expenses and LossesRevenuesTotal ExpensesTotal Revenues	enter a total amount for all three parts		enter percentages rounded to 1 decimal place %		enter a total amount for all three parts		enter percentages rounded to 1 decimal place %
select an income statement item Cost of Goods SoldDividendsExpensesGross ProfitIncome Before Income TaxesIncome From OperationsIncome Tax ExpenseInterest ExpenseNet Income / (Loss)Net SalesOperating ExpensesOther Expenses and LossesRevenuesTotal ExpensesTotal Revenues	enter a dollar amount		enter percentages rounded to 1 decimal place %		enter a dollar amount		enter percentages rounded to 1 decimal place %
select a closing name for this statement Cost of Goods SoldDividendsExpensesGross ProfitIncome Before Income TaxesIncome From OperationsIncome Tax ExpenseInterest ExpenseNet Income / (Loss)Net SalesOperating ExpensesOther Expenses and LossesRevenuesTotal ExpensesTotal Revenues	$enter a total net income or loss amount		enter percentages rounded to 1 decimal place %		$enter a total net income or loss amount		enter percentages rounded to 1 decimal place %