Vertical Analysis Income statement information for Ivanoff Corporation follows: Sales Cost of goods sold Gross profit $207,000 68,310 138,690 Prepare a vertical analysis of the income statement for Ivanoff Corporation. If required, round percentage answers to the nearest whole number. Ivanoff Corporation Vertical Analysis of the Income Statement Amount Percentage Sales $207,000 % Cost of goods sold 68,310 % Gross profit $138,690 %