The comparative condensed income statements of Emley Corporation are shown below.

The comparative condensed income statements of Emley Corporation are shown below. EMLEY CORPORATION Comparative Condensed Income Statements For the Years Ended December 31 2017 2016 Net sales $726,000 $661,000 Cost of goods 531,300 462,000 sold Gross profit 194,700 199,000 Operating 137,500 132,000 expenses Net income $ 57,200 $ 67,000 Prepare a vertical analysis of the income statement data for Emley Corporation in columnar form for both years.( EMLEY CORPORATION Condensed Income Statements For the Years Ended December 31 - 2017 2016 Percent Amount Percent Amount Net sales $726,000 $661,000 % Cost of goods sold 531,300 462,000 Gross profit 194,700 199,000 Operating expenses 137,500 132,000 Net income $ 57,200 0% $ 67,000