Operating data for Crane Corporation are presented as follows. 2022 2021 Net sales $753,000 $602,000 Cost...

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Operating data for Crane Corporation are presented as follows. 2022 2021 Net sales $753,000 $602,000 Cost of goods sold 462,342 394,912 Selling expenses 124,245 75,852 Administrative expenses 63,252 57,792 Income tax expense 37,650 20,468 Net income 65,511 52,976 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round answers to 1 decimal place, e.g. 48.5%.) Net sales CRANE CORPORATION Condensed Income Statements For the Years Ended December 31 2022 Amount Percent $753,000 Cost of goods sold 462,342 Gross profit Amount % $602,000 % 394,912 2021 Percent % % 290,658 % 207,088.0 % Selling expenses 124,245 % 75,852 % Administrative expenses 63,252 % 57,792 % Total operating expenses 187,497 % 133,644 % Income before income taxes 103,161 % 73,444 % Income tax expense Net income 37,650 % 20,468 % $65,511 % $52,976 % Operating data for Crane Corporation are presented as follows. 2022 2021 Net sales $753,000 $602,000 Cost of goods sold 462,342 394,912 Selling expenses 124,245 75,852 Administrative expenses 63,252 57,792 Income tax expense 37,650 20,468 Net income 65,511 52,976 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round answers to 1 decimal place, e.g. 48.5%.) Net sales CRANE CORPORATION Condensed Income Statements For the Years Ended December 31 2022 Amount Percent $753,000 Cost of goods sold 462,342 Gross profit Amount % $602,000 % 394,912 2021 Percent % % 290,658 % 207,088.0 % Selling expenses 124,245 % 75,852 % Administrative expenses 63,252 % 57,792 % Total operating expenses 187,497 % 133,644 % Income before income taxes 103,161 % 73,444 % Income tax expense Net income 37,650 % 20,468 % $65,511 % $52,976 %