Operating data for Martinez Corp. are presented as follows.

		2022		2021
Net sales		$750,000		$590,000
Cost of goods sold		441,750		364,030
Selling expenses		102,000		74,340
Administrative expenses		55,500		50,150
Income tax expense		30,000		23,010
Net income		120,750		78,470

Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, e.g. 12.1%.)

MARTINEZ CORP. Condensed Income Statement choose the accounting period December 31For the Years Ended December 31For the Month Ended December 31
	2022					2021
	Amount		Percent			Amount		Percent
Net sales	$750,000		enter sales as a percentage	%		$590,000		enter sales as a percentage	%
Cost of goods sold	441,750		enter cost of goods sold as a percentage	%		364,030		enter cost of goods sold as a percentage	%
Gross profit	308,250		enter gross profit as a percentage	%		225,970		enter gross profit as a percentage	%
Selling expenses	102,000		enter selling expenses as a percentage	%		74,340		enter selling expenses as a percentage	%
Administrative expenses	55,500		enter administrative expenses as a percentage	%		50,150		enter administrative expenses as a percentage	%
Total operating expenses	157,500		enter total operating expenses as a percentage	%		124,490		enter total operating expenses as a percentage	%
Income before income taxes	150,750		enter income before income taxes as a percentage	%		101,480		enter income before income taxes as a percentage	%
Income tax expense	30,000		enter income tax expenses as a percentage	%		23,010		enter income tax expenses as a percentage	%
Net income	$ 120,750		enter net income as a percentage	%		$ 78,470		enter net income as a percentage	%