Here are the comparative income statements of Blue Spruce Corporation. BLUE SPRUCE CORPORATION Comparative Income Statements For the Years Ended December 31 December 31, 2022 December 31, 2021 Net sales $619,000 $480,000 Cost of goods sold 402,000 342,000 Gross profit 217,000 138,000 Operating expenses 144,000 104,000 Net income $73,000 $34,000 (a) Your answer has been saved. See score details after the due date. Prepare a horizontal analysis of the income statement data for Blue Spruce Corporation using 2021 as a base. (If amount and percentage are a decrease show the numbers as negative, eg.-55,000, -12.1% or (55,000), (12.1%). Round percentages to 1 decimal place, eg. 12.1%) ICE CORPORATION ve Income Statements rs Ended December 31 Increase or (Decrease) During 2022 December 31, 2022 December 31, 2021 Amount Percentage $619,000 $480,000 $ 139000 29 ids sold 402.000 342.000 60000 t 175 217,000 138,000 79000 572 Expenses 144,000 104,000 40.000 $73,000 $34,000 $ 7,000 1147 (b) Prepare a vertical analysis of the income statement data for Blue Spruce Corporation for both years. (Round percentages to 1 decimal place, e.g. 12.1%.) BLUE SPRUCE CORPORATION Comparative Income Statements For the Years Ended December 31 2022 2021 $ Percent $ Percent Net sales $619,000 % $480,000 % Cost of goods sold 402,000 % 342,000 %6 Gross profit 217,000 % 138,000 % Operating expenses 144,000 % 104,000 % Net income $73,000 % $34,000 %