Here are the comparative income statements of Crane Corporation.

CRANE CORPORATION Comparative Income Statement For the Years Ended December 31
		2022		2021
Net sales		$625,500		$573,800
Cost of goods sold		457,900		434,800
Gross Profit		167,600		139,000
Operating expenses		70,800		44,000
Net income		$ 96,800		$ 95,000

(a) Prepare a horizontal analysis of the income statement data for Crane 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%.)

CRANE CORPORATION Comparative Income Statement choose the accounting period For the Years Ended December 31For the Month Ended December 31December 31
					Increase or (Decrease) During 2022
	2022		2021		Amount		Percentage
Net sales	$625,500		$573,800		$enter a dollar amount		enter percentages rounded to 1 decimal place	%
Cost of goods sold	457,900		434,800		enter a dollar amount		enter percentages rounded to 1 decimal place	%
Gross Profit	167,600		139,000		enter a dollar amount		enter percentages rounded to 1 decimal place	%
Operating expenses	70,800		44,000		enter a dollar amount		enter percentages rounded to 1 decimal place	%
Net income	$ 96,800		$ 95,000		$enter a dollar amount		enter percentages rounded to 1 decimal place	%

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

CRANE CORPORATION Condensed Income Statements choose the accounting period For the Years Ended December 31For the Month Ended December 31December 31
	2022					2021
	$		Percent			$		Percent
Net sales	$625,500		enter percentages rounded to 1 decimal place	%		$573,800		enter percentages rounded to 1 decimal place	%
Cost of goods sold	457,900		enter percentages rounded to 1 decimal place	%		434,800		enter percentages rounded to 1 decimal place	%
Gross Profit	167,600		enter percentages rounded to 1 decimal place	%		139,000		enter percentages rounded to 1 decimal place	%
Operating expenses	70,800		enter percentages rounded to 1 decimal place	%		44,000		enter percentages rounded to 1 decimal place	%
Net income	$ 96,800		enter percentages rounded to 1 decimal place	%		$ 95,000		enter percentages rounded to 1 decimal place	%