Here are the comparative income statements of Delaney Corporation. 2019 Delaney Corporation Comparative Income Statements For the Years Ended December 31 2020 Net sales $735,000 $616,000 Cost of goods 574,770 499,576 sold Gross profit 160,230 116,424 Operating 101,430 56,672 expenses Net income $ 58,800 $ 59,752 Prepare a horizontal analysis of the income statement data for Delaney Corporation, using 2019 as a base. (Show the amounts of increase or decrease.) (Enter negative amounts and percentages using either a negative sign preceding the number e.g. -45, -45% or parentheses e.g. (45), (45%). Round percentages to 1 decimal place, e.g. 12.3%.) DELANEY CORPORATION Condensed Income Statements Increase or (Decrease) During 2020 2020 2019 Amount Percentage Net sales $735,000 $616,000 Cost of goods sold 574,770 499,576 Gross profit 160,230 116,424 Operating expenses 101,430 56,672 Net Income $58,800 $59,752 (b) Prepare a vertical analysis of the income statement data for Delaney Corporation for both years. (Round percentages to 1 decimal place, e.g. 12.3%.) DELANEY CORPORATION Condensed Income Statements 2019 2020 Percent Amount Amount Percent Net sales $735,000 $616,000 Cost of goods sold 574,770 499,576 Gross profit 160,230 116,424 Operating expenses 101,430 56,672 Net income $ 58,800 $ 59,752