Here are the comparative income statements of Delaney Corporation. Delaney Corporation Comparative Income Statements For the Years Ended December 2020 2019 Net sales $762,000 $637,000 Cost of goods 594,360 516,607 sold Gross profit 167,640 120,393 Operating 104.394 59,241 expenses Net $ 63,246 $61,152 income (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 $762,000 $637,000 $ Cost of goods sold 594,360 516,607 Gross profit 167,640 120,393 Operating expenses 104,394 59,241 Net income $63,246 $61,152 (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 Amount Percent 2019 Amount Percent Net sales $762,000 % $637,000 Cost of goods sold 594,360 516,607 Gross profit 167,640 120,393 Operating expenses 104,394 59,241 Net income $63,246 $61,152