Operating data for Waterway Corporation are presented below.$($a$)$ Prepare a schedule showing a vertical analysis for $2020$ and $2019.($Round answers to $1$ decimal place, e$.$g$.48\mathrm{.}5\%.)$WATERWAY CORPORATIONCondensed Income StatementsFor the Years Ended December $3120202019$AmountPercentAmountPercentSales$$941,000\%$$$707,000$Ny WileyPlus: Assi...$-/1020202019$Net sales$$941,000$$$707,000$Cost of goods sold$555,190466,620$Selling expenses$141,15084,840$Administrative expenses$75,28063,630$Income tax expense$50,81427,573$Net income$118,56664,337$WATERWAY CORPORATION Condensed Income Statements For the Years Ended December $31$