Current Attempt in Progress Operating data for Sandhill Land Corporation are presented below: December 31, 2021 December 31, 2020 Sales revenue $905,000 $705,000 Cost of goods sold 501,370 410,310 Selling expenses 141,180 98,700 Administrative expenses 101,360 74,730 Income tax expense 45,250 46,530 Net income 115,840 74,730 Prepare a schedule showing a vertical analysis for 2021 and 2020. (Round percentages to 1 decimal place, e.g. 12.1%.) SANDHILLLAND COMPANY Condensed Income Statement For the Years Ended December 31 2021 2020 Amount Percentage Amount Percentage Sales revenue $905,000 % $705,000 % Cost of goods sold 501,370 % 410,310 % Gross profit 403,630 % 294,690 % Selling expenses 141,180 98,700 % Administrative expenses 101,360 % 74,730 % Total operating expenses 242,540 % 173,430 % Income before income taxes 161,090 % 121,260 % Income tax expense 45,250 % 46,530 % Net income $115,840 % $74,730 %