Income statement information for Ivanoff Corporation follows: Sales $232,000 Cost of goods sold 71,920 Gross profit 160,080 Prepare a vertical analysis of the income statement for Ivanoff Corporation. If required, round percentage answers to the nearest whole number. Ivanoff Corporation Vertical Analysis of the Income Statement Amount Percentage Sales $232,000 % Cost of goods sold 71,920 % $160,080 % Gross profit