The income statements for Federer Sports Apparel for 2022 and 2021 are presented below. Required: Prepare a vertical analysis of the data for 2022 and 2021. (Round your percentage answers to 1 decimal place.) FEDERER SPORTS APPAREL Income Statement For the Years Ended December 31 2022 2021 Amount Amount % % Net sales $ 20.50 $ 16,100,000 20.5 69.0 + 31.0 Cost of goods sold Gross profit Operating expenses Depreciation expense Inventory write-down Loss (litigation) Income before tax 7.373,800 8,726,200 1,336,300 1,143,100 19,400,000 12,920,400 6,479,600 1,765,400 1,144,600 329,800 1,668,400 1,571,400 582,000 989,400 0 289,800 5,957,000 2,173,500 3,783,500 Income tax expense Net income $ $ The income statements for Federer Sports Apparel for 2022 and 2021 are presented below. Required: Prepare a vertical analysis of the data for 2022 and 2021. (Round your percentage answers to 1 decimal place.) FEDERER SPORTS APPAREL Income Statement For the Years Ended December 31 2022 % % UP Net sales $ $ 2021 Amount 16,100,000 7,373,800 8,726,200 1,336,300 1,143,100 Amount 19,400,000 12,920,400 6,479,600 1,765,400 1,144,600 329,800 1,668,400 1,571,400 582,000 989,400 Cost of goods sold Gross profit Operating expenses Depreciation expense Inventory write-down Loss (litigation) Income before tax Income tax expense Net income 0 289,800 5,957,000 2,173,500 3,783,500 $ $