Here are the comparative income statements of Cheyenne Corporation.

CHEYENNE CORPORATION Comparative Income Statement For the Years Ended December 31
		2022		2021
Net sales		$588,000		$490,000
Cost of goods sold		474,516		416,010
Gross profit		113,484		73,990
Operating expenses		80,556		44,100
Net income		$ 32,928		$ 29,890

(a) Prepare a horizontal analysis of the income statement data for Cheyenne Corporation, using 2021 as a base. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, e.g. 12.1%.)

CHEYENNE CORPORATION Comparative Income Statement choose the accounting period For the Years Ended December 31December 31For the Month Ended December 31
					Increase or (Decrease) During 2022
	2022		2021		Amount		Percentage
Net sales	$588,000		$490,000		$enter a dollar amount		enter percentages rounded to 1 decimal place	%
Cost of goods sold	474,516		416,010		enter a dollar amount		enter percentages rounded to 1 decimal place	%
Gross profit	113,484		73,990		enter a total amount for the first part		enter percentages rounded to 1 decimal place	%
Operating expenses	80,556		44,100		enter a dollar amount		enter percentages rounded to 1 decimal place	%
Net income	$ 32,928		$ 29,890		$enter a total net income amount		enter percentages rounded to 1 decimal place	%

(b) Prepare a vertical analysis of the income statement data for Cheyenne Corporation for both years. (Round percentages to 1 decimal place, e.g. 12.1%.)

CHEYENNE CORPORATION Condensed Income Statements choose the accounting period December 31For the Month Ended December 31For the Years Ended December 31
	2022					2021
	$		Percent			$		Percent
Net sales	$588,000		enter percentages	%		$490,000		enter percentages	%
Cost of goods sold	474,516		enter percentages	%		416,010		enter percentages	%
Gross profit	113,484		enter percentages	%		73,990		enter percentages	%
Operating expenses	80,556		enter percentages	%		44,100		enter percentages	%
Net income	$ 32,928		enter percentages	%		$ 29,890		enter percentages	%