Chapter 12 - Homework Saved Help Save & Exit Submit Check my work 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.) points FEDERER SPORTS APPAREL eBook Income Statement Hint For the Years Ended December 31 2022 Print 2021 Amount Amount % References $ 18.800.000 $ 15,500,000 Net sales 100.0 100.0 Cost of goods sold 13,200,000 7,000,000 Gross profit 5,600,000 8,500,000 Operating expenses 1,600,000 1,200,000 Depreciation expense 1,000,000 1,000,000 Inventory write-down 200,000 Loss (litigation) 1,500,000 300,000 Income before tax 1,300,000 6,000,000 Income tax expense 450,000 2,000,000 850,000 4,000,000: Net income