Selected data (in thousands) from the income statement of Sheridan Inc. are shown below. Net sales $1,920 1,600 Cost of goods sola 320 Gross profit 216 Operating expenses 104 Profit before income tax 31 Income tax expense $73 Profit Perform a vertical analysis and calculate the percentage of the base amount for the current year. (Round percentage answers to 1 decimal place, es: 52.7%) Income Statement Percent Amount Perform a vertical analysis and calculate the percentage of the base amount for the current year (round percentage answers to 1 decimal place, es. 52.7%) Income Statement Amount Percent 1 Net sales X Cost of goods sold 3 Gross profit Operating expenses % Profit before income tax Income tax expense Profit