Here are the comparative income statements of Crane Corporation. CRANE CORPORATION Comparative Income Statement For the Years Ended December 31 2022 2021 Net sales $644,500 $557,200 Cost of goods sold 457,600 400.400 Gross Profit 186.900 156.800 Operating expenses 77.100 48.100 Net income $ 109,800 $108,700 (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, e.g. 12.1%.) CRANE CORPORATION Comparative Income Statement Increase or (Decrease) During 2022 Percentage 2022 2021 Amount Net sales $644,500 $557,200 $ Cost of goods sold 457,600 400,400 Gross Profit 184,900 156,800 Operating expenses 77.100 18,100 Net income $ 109,800 $ 108,700 $ (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 2022 2021 Percent $ Percent Net sales $644,500 % $557,200 % Cost of goods sold 457,600 % 400,400 % Gross Profit 186,900 % 156,800 % Operating expenses 77,100 % 48,100 % Net income $ 109,800 % $ 108,700 %