Operating data for Blue Spruce Corp. are presented as follows. 2022 2021 Net sales $850,000 $640,000 Cost of goods sold 595,000 433,920 Selling expenses 131,750 73,600 Administrative expenses 65,450 52,480 Income tax expense 30,600 27,520 Net income 27,200 52,480 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, e.g. 12.1%.) BLUE SPRUCE CORP. Condensed Income Statement % do do % do % % do do % do % do % % do 2022 2021 Amount Percent Amount Percent Net sales $850,000 % $640,000 Cost of goods sold 595,000 % 433,920 Gross profit 255,000 % 206,080 Selling expenses 131,750 % 73,600 Administrative expenses 65,450 % 52,480 Total operating expenses 197,200 % 126,080 Income before income taxes 57,800 % 80,000 Income tax expense 30,600 % 27,520 Net income $27,200 % $52,480 % do