1 Exercise 12-2A Prepare vertical analysis (LO12-1) 2 points The Income statements for Federer Sports Apparel for 2022 and 2021 are presented below. Required: Prepare a vertical analysis of the data for 2022 and 2021. (Round your percentage answers to 1 decimal place.) % Net sales Cost of goods sold Gross profit Operating expenses Depreciation expense Inventory write-down Loss (litigation) Income before tax Income tax expense Net income Answer is complete but not entirely correct. FEDERER SPORTS APPAREL Income Statement For the Years Ended December 31 2022 2021 Amount 19 Amount S 19,400,000 100.0 $ 16,100,000 12,920,400 66.6 7.373,800 6.479,600 334 8,726,200 1,765,400 9.1 1.336,300 1.144,600 5.9 1.143.100 329,800 17 0 1,668,400 8,6 289,800 1,571,400 8.1 5,957.000 582,000 3.0 2,173,500 $ 909,400 5.1$ 3,783,500 100.0 458 54.2 8.3 7.1 0.0 1.8 273 13.5 23.5 NO