Operating data for Concord Corporation are presented as follows. 2022 2021 Sales revenue $827,200 $626,800 Cost...

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Operating data for Concord Corporation are presented as follows. 2022 2021 Sales revenue $827,200 $626,800 Cost of goods sold 529,408 407,420 Selling expenses 119,944 75,216 Administrative expenses 70,312 50,144 Income tax expense 33,008 28,206 Net income 74,449 65,814 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, e.g. 12.1%) CONCORD CORPORATION Condensed Income Statement 2022 2021 Amount Percent Sales $827,200 Cost of goods sold 529,408 Gross profit 297,792 Selling expenses 119,944 70.312 Administrative expenses Total operating expenses 190,256 Income before income taxes 107,536 Income tax expense 33,088 Net income $74,448 Amount 36 $626,800 407,420 % 219.380 36 75.21 50,144 36 125,360 36 94,020 28,206 $ 65,814 28 X Percent X 20 2 96 X Operating data for Concord Corporation are presented as follows. 2022 2021 Sales revenue $827,200 $626,800 Cost of goods sold 529,408 407,420 Selling expenses 119,944 75,216 Administrative expenses 70,312 50,144 Income tax expense 33,008 28,206 Net income 74,449 65,814 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, e.g. 12.1%) CONCORD CORPORATION Condensed Income Statement 2022 2021 Amount Percent Sales $827,200 Cost of goods sold 529,408 Gross profit 297,792 Selling expenses 119,944 70.312 Administrative expenses Total operating expenses 190,256 Income before income taxes 107,536 Income tax expense 33,088 Net income $74,448 Amount 36 $626,800 407,420 % 219.380 36 75.21 50,144 36 125,360 36 94,020 28,206 $ 65,814 28 X Percent X 20 2 96 X

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