Here are comparative statement data for Duke Company and Lord Company, two competitors. All balance sheet data are as of December 31, 2020, and December 31, 2019.

		Duke Company				Lord Company
		2020		2019		2020		2019
Net sales		$1,878,000				$559,000
Cost of goods sold		1,100,508				296,829
Operating expenses		261,042				79,937
Interest expense		9,390				4,472
Income tax expense		54,462				6,149
Current assets		329,000		$312,100		83,200		$78,300
Plant assets (net)		519,900		501,200		139,800		124,200
Current liabilities		65,400		74,800		34,200		29,600
Long-term liabilities		108,800		90,400		30,200		26,000
Common stock, $10 par		499,500		499,500		120,500		120,500
Retained earnings		175,200		148,600		38,100		26,400

Prepare a vertical analysis of the 2020 income statement data for Duke Company and Lord Company. (Round percentages to 1 decimal place, e.g. 12.1%.) Condensed Income Statement For the Year Ended December 31, 2020 Duke Company Dollars Percent Dollars Net Sales $ 1878000 100 % TA Cost of Goods Sold 1,100,508 55.4 % 296 Gross Profit 837588 44.6 % Operating Expenses 261042 i 13.9 i % Income From Operations 576546 30.7 % 1 Cost of Goods Sold 1,100,508 55.4 % 2961 Gross Profit 837588 44.6 % Operating Expenses 261042 i 13.9 i % Income From Operations 576546 30.7 % Other Expenses and Losses Interest Expense 9390 i 0.5 i % Income Before Income Taxes 567156 30.2 % Income Tax Expense 54462 2.90 i % Net Income /(Loss) $ 512694 27.3 % $ Condensed Income Statement For the Year Ended December 31, 2020 Duke Company Lord Company ollars Percent Dollars Percent 1878000 100 % $ 559000 100 % 1,100,508 55.4 % 296829 i 53.1 i % 837588 44.6 % 262171 46.9 % 261042 i 13.9 % 78260 14 % 576546 30.7 % 183911 32.9 % 9390 i 0.5 % 3913 0.7 % 547154 202 0% 170000 22. 07