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, eg. -55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, eg. 12.1%) CRANE CORPORATION Comparative Income Statement Increase or (Decrease) During 2022 2022 2021 Amount 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 Percentage % %6 % % (b) Prepare a vertical analysis of the income statement data for Crane Corporation for both years. (Round percentages to 1 decimal place, es. 12.1%) CRANE CORPORATION Condensed Income Statements 2022 Percent 2021 Percent % 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