Current Attempt in Progress Comparative data from the income statement of Cullumber Corporation are shown below....

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Current Attempt in Progress Comparative data from the income statement of Cullumber Corporation are shown below. 2024 2023 Net sales $800,000 $572,000 Cost of goods sold 536,000 366,080 Gross profit 264,000 205,920 Operating expenses 160,000 113,600 Profit before income tax 104,000 92,320 Income tax expense 26,000 23,080 Profit for the year $78,000 $69,240 Prepare a vertical analysis for Cullumber Corporation. (Round percentage answers to 1 decimal place, e.g. 52.7%.) CULLUMBER CORPORATION Income Statement Year Ended December 31 Sales 2024 Amount Percent $800,000 2023 Amount Percent % $572,000 % 366,080 % % 264,000 % 205,920 % Cost of goods sold 536,000 Gross profit Operating expenses 160,000 % 113,600 % Profit before income tax 104,000 % 92,320 % Income tax expense 26,000 % 23,080 % Profit for the year $78,000 % $69,240 % Current Attempt in Progress Comparative data from the income statement of Cullumber Corporation are shown below. 2024 2023 Net sales $800,000 $572,000 Cost of goods sold 536,000 366,080 Gross profit 264,000 205,920 Operating expenses 160,000 113,600 Profit before income tax 104,000 92,320 Income tax expense 26,000 23,080 Profit for the year $78,000 $69,240 Prepare a vertical analysis for Cullumber Corporation. (Round percentage answers to 1 decimal place, e.g. 52.7%.) CULLUMBER CORPORATION Income Statement Year Ended December 31 Sales 2024 Amount Percent $800,000 2023 Amount Percent % $572,000 % 366,080 % % 264,000 % 205,920 % Cost of goods sold 536,000 Gross profit Operating expenses 160,000 % 113,600 % Profit before income tax 104,000 % 92,320 % Income tax expense 26,000 % 23,080 % Profit for the year $78,000 % $69,240 %