Here are the comparative income statements of Pina Colada Corp..

PINA COLADA CORP. Comparative Income Statement For the Years Ended December 31
		2019		2018
Net sales		$648,000		$540,000
Cost of goods sold		517,104		465,480
Gross Profit		130,896		74,520
Operating expenses		85,536		48,060
Net income		$ 45,360		$ 26,460

Prepare a vertical analysis of the income statement data for Pina Colada Corp. for both years. (Round percentages to 1 decimal place, e.g. 12.1%.) PINA COLADA CORP. Condensed Income Statements For the Years Ended December 31 2019 2018 Percent Percent Net sales $648,000 % $540,000 Cost of goods sold 517,104 % 465,480 Gross Profit 130,896 % 74,520 Operating expenses 85,536 % 48,060 Net income $ 45,360 % $ 26,460