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Operating data for Bramble Corp. are presented below. 2022 2021 Sales revenue $827,200 $626,800 Cost of goods sold 529,100 412,600 Selling expenses 121,800 73,700
Operating data for Bramble Corp. are presented below. 2022 2021 Sales revenue $827,200 $626,800 Cost of goods sold 529,100 412,600 Selling expenses 121,800 73,700 Administrative expenses 73,200 50,000 Income tax expense 33,400 27,100 Net income 69,700 63,400 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, e.g. 12.1%.) BRAMBLE CORP. Condensed Income Statement 2022 Amount Percent Sales $827,200 2021 Amount Percent % $626,800 % Cost of goods sold 529,100 % 412,600 % Gross profit 298,100 % 214,200 % Selling expenses 121,800 do % 73,700 % Administrative expenses 73,200 % 50,000 do % Total operating expenses 195,000 % 123,700 % Income before income taxes 103,100 do % 90,500 % Income tax expense Net income 33,400 $ 69,700 do % 27,100 do % do % $ 63,400 %
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