Buslines Inc.'s income statement (condensed) for two years is shown below: 31 December 20X4 20X5 Gross sales $ 550,000 $ 606,000 Sales returns (10,000 ) (6,000 ) 540,000 600,000 Cost of goods sold (170,000 ) (280,000 ) Gross margin 370,000 320,000 Expenses Selling expenses 180,600 170,700 Administrative expenses 125,600 106,000 Restructuring 10,800 8,000 Interest 5,400 6,000 Income tax expense 14,400 7,300 Total other expenses 336,800 298,000 Net income and comprehensive income $ 33,200 $ 22,000 

Required: 1a. Prepare vertical percentage analysis of the income statement.