Operating data for Whispering Winds Corp. are presented below. 2017 2016 $843,200 $649,500 Sales revenue Cost of goods sold 530,500 410,300 Selling expenses 124,100 73,600 Administrative expenses 77,200 53,900 Income tax expense 38,900 24,600 Net income 72,500 87,100 Prepare a schedule showing a vertical analysis for 2017 and 2016. (Round percentages to 1 decimal place, e.g. 12.1%) WHISPERING WINDS CORP. Condensed Income Statement 2017 2016 Amount Percent Amount Percent Sales $843,200 $649,500 Cost of goods sold 530,500 410,300 239,200 Gross profit 312,700 73,600 * 124,100 Selling expenses Administrative expenses 77,200 53,900 se 127.500 201,300 Total operating expenses Prepare a schedule showing a vertical analysis for 2017 and 2016. (Round percentages to 1 decimal place, e.g. 12.1%) WHISPERING WINDS CORP. Condensed Income Statement 2017 2016 Amount Percent Amount Percent * Sales $843,200 % $649,500 * Cost of goods sold 530,500 410,300 Gross profit 312,700 239,200 Selling expenses 124,100 73,600 Administrative expenses 77,200 53,900 1* Total operating expenses 201,300 127,500 Income before income taxes 111,400 Income tax expense 38,900 111,700 24,600 $ 87,100 Net income $ 72,500