Question 1 of 7 -/31 View Policies Current Attempt in Progress Operating data for Sheffield Corp. are presented below. Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income 2022 2021 $839,100 $649,000 522,400 410,700 121,700 76,300 76,200 54,000 34,200 24,400 84,600 83,600 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, eg. 12.1%.) SHEFFIELD CORP Condensed Income Statement 2022 Percent 2021 Percent Amount Amount % $649.000 % $839.100 Sales % % 410,700 522,400 Cost of goods sold % % 238,300 Gross profit 316,700 % % 76,300 Selling expenses 121.700 % % 54,000 76,200 Administrative expenses 9 % 130,300 Total operating expenses 197.900 % % 108,000 118,800 Income before income taxes % % 24,400 34,200 % Income tax expense % $ 83,600 $ 84,600 Net income