Question 2 of 10 - / 1.7 E View Policies Current Attempt in Progress Operating data for Pina Colada Corp. are presented as follows. 2022 2021 Net sales $750,000 $640,000 Cost of goods sold 468,000 459,520 Selling expenses 117,750 84,480 Administrative expenses 59,250 56,320 Income tax expense 28,500 26,240 Net income 76,500 13,440 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, e.g. 12.1%.) PINA COLADA CORP. Condensed Income Statement + 2021 Amount Percent Amount Net sales $750,000 $640,000 Cost of goods 468,000 459,520 sold Gross profit 282,000 180,480 Selling 117,750 84,480 expenses Administrative 59,250 56,320 expenses Total operating 177,000 140,800 expenses Income before 105,000 39,680 income taxes Income tax 28,500 26,240 expense Net income $76,500 $ 13,440 2022 % % % % % % % % % Percent 9 9 9 9 9 9 9 9