Operating data for Vaughn Corporation are presented as follows. 2022 2021 $746,000 Net sales $603,000 Cost of goods sold 466,250 384,714 Selling expenses 124,582 67.536 Administrative expenses 55,204 54,873 Income tax expense 37.300 24,120 Net income 62,664 71,757 Prepare a schedule showing a vertical analysis for 2022 and 2021 (Round answers to 1 decimal place, c.8. 48.5%) VAUGHN CORPORATION Condensed Income Statements For the Years Ended December 31 2021 2022 Amount Percent Amount Percent Net sales $746,000 % % $603.000 466.250 Cost of goods sold 384,714 % Gross profit 279.750 % 2% 218.286.0 Selling expenses 124582 96 67.536 96 Administrative expenses 55.204 06 54,873 % 6 Total operating expenses 179.786 6 122.409 % Income before income taxes 99.964 3 95.877 96 Income tax expense 37,300 96 24. 120 96 Net income $62.664 $71.757 Current Attempt in Progress Operating data for Vaughn Corporation are presented as follows. 2022 2021 Net sales $746,000 $603,000 Cost of goods sold 466,250 384714 Selling expenses 124,582 67,536 Administrative expenses 55,204 54,873 Income tax expense 37.300 24.120 Net income 62,664 71757 Prepare a schedule showing a vertical analysis for 2022 and 2021. Round answers to 1 decimal place, as 48.5%) VAUGHN CORPORATION Condensed Income Statements For the Years Ended December 31 2022 2021 Amount Percent Amount Percent Net sales $746,000 96 $603.000 Cost of goods sold 466,250 394,714 Gross pranit 279.750 218,286,0 Selling experises 124,582 67 536 Administrative expenses 55,204 03 54973 Total operating expenses 179,786 122.409 Income before income taxes 99,964 95.977 Income tax expende 37.300 24 120 Net Income $82,664 $71,757