The following table shows Federer Sports Apparel€™s income statements for 2016 and 2015.

Required:
Prepare a vertical analysis of the data for 2016 and2015.

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FEDERER SPORTS APPAREL Income Statements For the Years Ended December 31 2015 S18,200,000 2016 Revenues S20,000,000 Cost of goods sold Gross profit Operating expenses Depreciation expense Inventory write-down Loss (litigation) 5,000,000 1.800.000 1,200,000 6.900.000 2,000,000 1.100.000 500.000 Income before tax 1.400,000 3,100,000 Income tax expense 400000 1.000.000 Net income