Exercise 13-04 Operating data for Indigo Corporation are presented below. 2021 Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income 2022 $827,400 524,600 123,000 74,000 37,800 68,000 $647,900 413,600 78,400 54,000 26,600 75,300 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, e.g. 12.1%.) INDIGO CORPORATION Condensed Income Statement 2022 Percent 2021 Percent Amount $827,400 Amount $647,900 Sales % Cost of goods sold 524,600 413,600 Gross profit 302,800 234,300 Selling expenses 123,000 78,400 Administrative expenses 74,000 54,000 Total operating expenses 197,000 132,400 Income before income taxes 105,800 101,900 Income tax expense 37,800 26,600 Net income $ 68,000 $ 75,300 Click if you would like to Show Work for this question: Open Show Work