Here are the comparative income statements of Marigold Corporation.

Here are the comparative income statements of Marigold Corporation. MARIGOLD CORPORATION Comparative Income Statement For the Years Ended December 31 2022 2021 Net sales $660,000 $550,000 Cost of goods sold 527,340 476,300 Gross profit 132,660 73,700 Operating expenses 82,500 46,750 Net income $ 50,160 $ 26,950 (a) Prepare a horizontal analysis of the income statement data for Marigold 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, e.g. 12.1%.) MARIGOLD CORPORATION Comparative Income Statement For the Years Ended December 31 Increase or (Decrease) During 2022 2022 2021 Amount Percentage Net sales $660,000 $550,000 $ % Cost of goods sold 527,340 476,300 % Gross profit 132,660 73,700 % Operating expenses 82,500 46,750 % Net income $50,160 $ 26,950 $ % (b) Prepare a vertical analysis of the income statement data for Marigold Corporation for both years. (Round percentages to 1 decimal place, e.g. 12.1%.) MARIGOLD CORPORATION Condensed Income Statements 2022 2021 Percent Percent Net sales $660,000 % $550,000 % Cost of goods sold 527,340 % 476,300 % Gross profit 132,660 % 73,700 % Operating expenses 82,500 % 46,750 % Net income $ 50,160 % $ 26,950 %