Question: Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, eg. 12.1%) BRIDGEPORT CORP. Condensed Income Statement For

Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, eg. 12.1%) BRIDGEPORT CORP. Condensed Income Statement For the Years Ended December 31 2022 2021 Amount Percent Amount Percent Sales $730,000 100 % $570,000 Cost of goods sold 448,950 615 % 362.520 Gross profit 281,050 38.5 % 207,480 % Selling expenses 99,280 13.6 % 67,260 % Administrative expenses 54,020 7.4 % 49,020 % Total operating expenses 153,300 21 94 116,280 Income before income taxes 127.750 17.5 % 91,200 X Income tax expense 26,280 3.4 % 22.800 Net income $ 101.470 13.9 % $ 68.400

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