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Operating data for Cheyenne Corp. are presented as follows. Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income 2022

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Operating data for Cheyenne Corp. are presented as follows. Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income 2022 $831,900 524,097 124,785 74,871 41,595 66,552 2021 $629,500 409,175 74,281 50,360 25,180 70,504 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, e.g. 12.1%.) CHEYENNE CORP. Condensed Income Statement 2022 Percent 2021 Percent Amount Amount Sales $831,900 % $629.500 96 Cost of goods sold 524,097 96 409,175 96 307.803 96 220.325 96 124.785 %6 74281 96 74.871 96 50.360 %6 Gross profit Selling expenses Administrative expenses Total operating expenses Income before income taxes Income tax expense 199,656 % 124.641 96 108,147 96 95,684 96 41,595 96 25.180 96 Net income $ 66,552 96 $ 70.504 96

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