View Policies Current Attempt in Progress Operating data for Swifty Corporation are presented as follows. 2022 2021 Net sales $750,000 $600,000 Cost of goods sold 461,250 391,800 Selling expenses 120,750 76,800 Administrative expenses 59,250 52,800 Income tax expense 29,250 24,000 Net income 79,500 54,600 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round answers to 1 decimal place, e.g. 48.5%.) SWIFTY CORPORATION Condensed Income Statements For the Years Ended December 31 Amount Net sales $750,000 Cost of goods sold 461,250 2022 2021 Percent Amount Percent % $600,000 % % 391,800 % Gross profit 288,750 % 208,200.0 % % Selling expenses 120,750 % 76,800 % Administrative expenses 59,250 52,800 % Total operating expenses % % 180,000 129,600 % % Income before income taxes 108,750 78,600 % % 29,250 24,000 Income tax expense % % Net income $79,500 $54,600