Here are the comparative income statements of Wildhorse Corporation. WILDHORSE CORPORATION Comparative Income Statement For the Years Ended December 31 2022 2021 Net sales $637,600 $522,500 Cost of goods sold 461,400 400,800 Gross Profit 176,200 121,700 Operating expenses 79,200 43,600 Net income $ 97,000 $78,100 (a) Prepare a horizontal analysis of the income statement data for Wildhorse 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%.) WILDHORSE CORPORATION Comparative Income Statement Increase or (Decrease) During 2022 2022 2021 Amount Percentage Net sales $637,600 $522,500 $ Cost of goods sold 461,400 400,800 Gross Profit 176,200 121,700 Operating expenses 79,200 43,600 Net income $ 97,000 $78,100 $ (b) Prepare a vertical analysis of the income statement data for Wildhorse Corporation for both years. (Round percentages to 1 decimal place, e.g. 12.1%.) WILDHORSE CORPORATION Condensed Income Statements 2022 2021 $ Percent $ Percent Net sales $637,600 % $522,500 Cost of goods sold 461,400 % 400,800 Gross Profit 176,200 % 121,700 Operating expenses 79,200 % 43,600 Net income $ 97,000 % $ 78,100