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 $ 18,100,000 100.0 $ 14,800,000 100.0 Cost of goods sold 13,466,400 6,586,000 Gross profit 4,633,600 8,214,000 Operating expenses 1,411,800 1,036,000 Depreciation expense Inventory write-down Loss (litigation) 832,600 72,400 1,321,300 858,400 0 251,600 Income before tax 995,500 6,068,000 Income tax expense 307,700 1,805,600 Net income $ 687,800 $ 4,262,400