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 Cost of goods sold Gross profit $ 18,200,000 100.0 $ 14,900,000 100.0 13,431,600 6,645,400 4,768,400 8,254,600 Operating expenses 1,437,800 1,057,900 Depreciation expense. 855,400 879,100 Inventory write-down 91,000 0 Loss (litigation) 1,346,800 268,200 Income before tax 1,037,400 6,049,400 327,600 1,832,700 Income tax expense $ 709,800 $ 4,216,700 Net income