Sports Emporium has two operating segments: sporting goods and sports apparel. The income statement for each operating segment is presented below. Required: 1. Complete the "%" columns to be used in a vertical analysis of Sports Emporium's two operating segments. Express each amount as a percentage of sales. (Round your answers to 1 decimal place.) Net sales Cost of goods sold Gross profit Operating expenses Operating income Other income (expense) Income before tax Income tax expense Net income SPORTS EMPORIUM Income Statement For the Year Ended December 31, 2021 Sporting Goods Sports Apparel Amount % Amount % $ 2,050,000 $ 1,070,000 1,140,000 490,000 910,000 580,000 550,000 440,000 360,000 140,000 25,000 (20,000) 385,000 120,000 90,000 80,000 $ 295,000 $ 40,000 2. Use vertical analysis to compare the profitability of the two operating segments. Which segment has a higher net income as a percentage of net sales? Sports Apparel O Sporting Goods