Here are the comparative income statements of Cullumber Corporation. CULLUMBER CORPORATION Comparative Income Statement For the Years Ended December 31 2022 2021 Net sales $639,400 $578,200 Cost of goods sold 464,800 433.400 Gross Profit 174,600 144.800 Operating expenses 70,500 43,000 Net income $ 104,100 $ 101,800 Prepare a horizontal analysis of the income statement data for Cullumber 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, eg. 12.1%.) CULLUMBER CORPORATION Comparative Income Statement Increase or (Decrease) During 2022 2022 2021 Amount Percentage Net sales $639,400 $578,200 do Cost of goods sold 464,800 433.400 Gross Profit 174,600 144.800 de % Operating expenses 70,500 43.000 Net income $ 104,100 $ 101,800 $ % (b) (D) a Prepare a vertical analysis of the income statement data for Cullumber Corporation for both years. (Round percentages to 1 decimal place, e.g. 12.1%.) CULLUMBER CORPORATION Condensed Income Statements 2022 2021 Percent $ Percent Net sales $639,400 % $578,200 % Cost of goods sold 464,800 % 433,400 % Gross Profit 174,600 % 144,800 % Operating expenses 70,500 % 43,000 % Net income $ 104,100 % $ 101,800 %