The income statements for Federer Sports Apparel for 2025 and 2024 are presented below. Required: Prepare a vertical analysis of the data for 2025 and 2024. (Round your percentage answers to 1 decimal place.) FEDERER SPORTS APPAREL Income Statement For the Years Ended December 31 2025 2024 Amount Amount Net sales 19,500,000 16,200,000 Cost of goods sold 12,870,000 7,435,800 Gross profit 6,630,000 8,764,200 Operating expenses 1,794,000 1,360,800 Depreciation expense 1,170,000 1,166,400 ces Inventory write-down 351,000 0 Loss (litigation) 1,696,500 275,400 Income before taxi 1,618,500 5,961,600 Income tax expense 604,500 2,203,200 Net income $ 1,014,000 $ 3,758,400