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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

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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.) Net sales Cost of goods sold Gross profit Operating expenses Depreciation expense Inventory write-down Loss (litigation) Income before tax Income tax expense Net Income FEDERER SPORTS APPAREL Income Statement For the Years Ended December 31 2022 Amount S 19,700,000 12,765,600 6,934.400 1,851,800 1,221,400 394,000 1,753,300 1,713,900 650, 100 1,063,800 2021 Amount 16,400,000 7,560,400 8,839,600 1,410,400 1.213,600 0 246.000 5,969,600 2.263,200 3,706,400

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