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Operating data for Swifty Corporation are presented below. Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income 2022 $830,700

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Operating data for Swifty Corporation are presented below. Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income 2022 $830,700 529.000 124,700 78.800 33,500 64.700 2021 $634.900 415,000 73,600 53.900 23,400 69,000 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, eg. 12.1%) SWIFTY CORPORATION Condensed Income Statement 2022 Percent 2021 Percent Amount Amount Sales % %6 $830,700 $634.900 Cost of goods sold 529,000 % 415,000 Gross profit 301,700 % % 219.900 Selling expenses 124,700 % 96 73,600 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, eg. 12.1%) SWIFTY CORPORATION Condensed Income Statement 2022 Percent 2021 Percent Amount $830,700 529.000 Amount $634.900 Sales 9 Cost of goods sold % 415,000 % Gross profit 301.700 % 219.900 Selling expenses 124,700 % 73,600 X Administrative expenses 78,800 % 53,900 % 203,500 % 127.500 96 Total operating expenses Income before income taxes 98,200 % 92,400 % Income tax expense 33,500 % 23.400 Net Income $ 64,700 % $ 69,000 %

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