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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
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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