Vertical Analysis Income statement information for Ivanoff Corporation follows: Sales Cost of $1,400,000 812,000 merchandise sold 588,000 Gross profit Prepare a vertical analysis of the income statement for Ivanoff Corporation. Ivanoff Corporation Vertical Analysis of the Income Statement Amount Percentage Sales $1,400,000 % Accounting numeric field Cost of merchandise sold 812,000 % Gross profit $588,000 %