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Operating data for Flounder Corp. are presented below. 2022 2021 Sales revenue $825,400 $628,400 Cost...

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Accounting

Operating data for Flounder Corp. are presented below. 2022 2021 Sales revenue $825,400 $628,400 Cost of goods sold 527,300 412,700 Selling expenses 125,600 76,800 Administrative expenses 75,500 52,800 Income tax expense 36,700 29,200 Net income 60,300 56,900 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, e.g. 12.1%.) FLOUNDER CORP. Condensed Income Statement choose the accouning period 2022 2021 Amount Percent Amount Percent Sales $825,400 enter percentages % $628,400 enter percentages % Cost of goods sold 527,300 enter percentages % 412,700 enter percentages % Gross profit 298,100 enter percentages % 215,700 enter percentages % Selling expenses 125,600 enter percentages % 76,800 enter percentages % Administrative expenses 75,500 enter percentages % 52,800 enter percentages % Total operating expenses 201,100 enter percentages % 129,600 enter percentages % Income before income taxes 97,000 enter percentages % 86,100 enter percentages % Income tax expense 36,700 enter percentages % 29,200 enter percentages % Net income $ 60,300 enter percentages % $ 56,900 enter percentages %

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