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Hare are the comparative income statements of Crana Corporation CRANE CORPORATION Comparative Income Statement For the Years Ended December 31 2022 2021 Net sales $625,500 $573,800 Cost of goods sold 457,900 434,800 Gross Profit 167,600 139,000 Operating expenses 70,800 44,000 Net income $96.800 $95,000 (a Prepare a horizontal analysis of the income statamant data for Crana Corporation, using 2021as a base famount and parcantgearea dec CRANE CORPORATION Comparative Income Statement Increase or (Decrease) During 2022 2022 2021 Amount Percentage Net sales $625.500 $573800 Cost of goods sold 457.P00 404900 Grow Prodt 147.600 70 800 44000 EREYSupe $96900 121 EE (Round pcentages to 1 dacimal placa CRANE CORPOHRATION Conditnaed InoOme Stetements (b) Prepare a vertical analysis of the income statement data for Crane Corporation for both years. (Round parcntgs to 1m CRANE CORPORATION Condensed Income Statements 2022 2021 Percent Percent $625,500 Net sales % $573,800 96 Cost of goods sold 457,900 434,800 6 139.000 167.600 96 Gross Profit 6 44,000 Operating expenses 70.800 96 % $ 95,000 Net income $96,800 96 eTextbook and Medla