Here are the comparative income statements of Delaney Corporation. Delaney Corporation Comparative Income Statements For the Years Ended December 31 2020 2019 Net sales $742,000 $621,000 Cost of goods 579,502 504,252 sold Gross profit 162,498 116,748 Operating expenses 102.396 57,753 Net income $ 60,102 $ 58,995 (a) Prepare a horizontal analysis of the income statement data for Delaney Corporation, using 2019 as a base. (Show the amounts of increase or decrease.) (Enter negative amounts and percentages using either a negative sign preceding the number e.g. -45, -45% or parentheses e.g. (45), (45%). Round percentages to 1 decimal place, e.g. 12.3%.) DELANEY CORPORATION Condensed Income Statements Increase or (Decrease) During 2020 Amount Percentage 2020 2019 Net sales $742,000 $621,000 $ Cost of goods sold 579,502 504,252 Gross profit 162,498 116,748 Operating expenses 102,396 57,753 Net income $60,102 $58,995 $ (b) Prepare a vertical analysis of the income statement data for Delaney Corporation for both years. (Round percentages to 1 decimal place, e.g. 12.3%.) DELANEY CORPORATION Condensed Income Statements 2020 2019 Amount Percent Amount Percent Net sales $742,000 % $621,000 % Cost of goods sold 579,502 % 504,252 % Gross profit 162,498 % 116,748 % Operating expenses 102,396 % 57,753 % Net income $ 60,102 % $ 58,995 %