Operating data for Sheridan Corporation are presented as follows.

Create a condensed income statement.

Prepare a schedule showing a vertical analysis for $2025$ and $2024.($Round percentages to $1$ decimal place$)$

Net sales: $2025$: $$842,8002024$: $$645,500$

Cost of goods sold: $2025$: $$529,3002024$: $$411,200$

Selling expenses: $2025$: $$124,400.2024$: $$411,200$

Administrative expenses: $2025$: $79,500.2024$: $50,100$

Income tax expense: $2025$: $$36,000.2024$: $27,500.$

Net Income: $2025$: $73,600.2024$: $$77,200.$