A17 fr A B IC D E Selected condensed information (in thousands) from Bonora Ltd.'s statement of income for four years ended June 30 follows: F G H 2 M 3 2021 2020 2019 2018 4 2021 2020 2019 2018 5 Sales 37,600 36,500 38,700 40,500 6 Cost of good sold 14,900 14,200 13,800 15,300 7 Gross profit 22,700 22,300 24,900 25,200 8 Operating expenses 18,500 17,400 16,200 17,600 9 ome from operations 4,200 4,900 8,700 7,600 10 Income tax expense 1,050 1,225 2,175 1,900 11 Net income $ 3,150 $ 3,675 $ 6,525 $ 5,700 12 Using vertical analysis, calculate the percentage of a base amount for each year. 13 14 15 16 17 18 19 20 21