The income statements for Federer Sports Apparel for 2019 and 2018 are presented below.

Required:

Prepare a vertical analysis of the data for 2019 and 2018. (Round your answers to 1 decimal place.)

		FEDERER SPORTS APPAREL
		Income Statement
		For the Years Ended December 31
	2019		2018
	Amount	%	Amount	%
Net Slales	$18,800,000		$15,500,000
Cost of goods sold	13,200,000		7,000,000
Gross profit	5,600,000		8,500,000
Operating expenses	1,600,000		1,200,000
Depreciation expense	1,000,000		1,000,000
Inventory write-down	200,000		0
Loss (litigation)	1,500,000		300,000
Income before tax	1,300,000		6,000,000
Income tax expense	450,000		2,000,000
Net income	$850,000		$4,000,000