Vertical Analysis. Calculate each row as a percentage of Net Sales. Mike's Restaurant Income Statement Years Ended 2019 and 2020 Net Sales Revenue 2020 24,000 % of Net Sales Revenue Cost of Goods Sold 1,500 Gross Profit 22,500 Depreciation Expense 300 Advertising Expense 500 Utilities Expense 130 Rent Expense 2,000 Operating Income 19,570 Interest Expense 170 Net Income 19,400