Operating data for Sarasota Corp. are presented as follows. 2022 2021 Net sales $860,000 $550,000 Cost of goods sold 593,400 384,450 Selling expenses 130,720 70,400 Administrative expenses 68,800 41,250 Income tax expense 32,680 24,750 Net income 34,400 29,150 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, eg. 12.1%.) Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, eg. 12.1%.) SARASOTA CORP. Condensed Income Statement 2022 2021 Amount Percent Amount Percent Net sales $860,000 % $550,000 % Cost of goods sold 593,400 % 384,450 % Gross profit 266,600 % 165,550 % Selling expenses 130,720 % 70,400 % Administrative expenses 68,800 % 41,250 % Total operating expenses 199,520 % 111,650 % Income before income taxes 67,080 % 53,900 % Income tax expense 32,680 % 24,750 % Net income $ 34,400 % $ 29,150 %