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Operating data for Blue Spruce Corp. are presented below. 2022 2021 $822,500 $643,500 Sales revenue Cost of goods sold 528,300 414,600 Selling expenses 124.000 79.000
Operating data for Blue Spruce Corp. are presented below. 2022 2021 $822,500 $643,500 Sales revenue Cost of goods sold 528,300 414,600 Selling expenses 124.000 79.000 Administrative expenses 74,700 38,700 53,000 27.900 Income tax expense Net income 56,800 69.000 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place eg 12.1%.) BLUE SPRUCE CORP. Condensed Income Statement 2022 2021 Amount Percent Amount Percent Sales $822,500 % $643,500 Cost of goods sold 528,300 % 414,600 Gross profit 294,200 228,900 Selling expenses 124,000 79,000 53,000 Administrative expenses 74,700 se Total operating expenses 198,700 % 132,000 Income before income taxes 95,500 96,900 Income tax expense 38,700 27,900 Net income $ 56,800 se $69,000
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