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Operating data for Grouper Corp. are presented below. 2022 2021 Sales revenue $842,800 $645,500 Cost of goods sold 529,300 411,200 Selling expenses 124,400 79,500
Operating data for Grouper Corp. are presented below. 2022 2021 Sales revenue $842,800 $645,500 Cost of goods sold 529,300 411,200 Selling expenses 124,400 79,500 Administrative expenses 79,500 50,100 Income tax expense 36,000 27,500 Net income 73,600 77,200 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, e.g. 12.1%.) GROUPER CORP. Condensed Income Statement 2022 Amount Percent 2021 Amount Perce Sales $842,800 Cost of goods sold 529,300 Gross profit 313,500 % $645,500 % 411,200 % 234,300 Selling expenses 124,400 % 79,500 Administrative expenses 79,500 % 50,100 Total operating expenses 203,900 % 129,600 Income before income taxes 109,600 % 104,700 Income tax expense 36,000 % 27,500 Net income $ 73,600 % $77,200
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