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Operating data for Ayayai Corp. are presented below. 2022 2021 Sales revenue $821,000 $621,000 Cost...

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Accounting

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Operating data for Ayayai Corp. are presented below. 2022 2021 Sales revenue $821,000 $621,000 Cost of goods sold 521,000 409,000 Selling expenses 121,000 73,000 49,000 Administrative expenses 73,000 Income tax expense 33,000 22,600 Net income 73,000 67,400 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, e.g. 12.1%.) AYAYAI CORP. Condensed Income Statement 2022 2021 Amount Percent Amount Percent Sales $821,000 % $621,000 Cost of goods sold 521,000 % 409,000 Gross profit 300,000 212,000 Selling expenses 121,000 73,000 Administrative expenses 73,000 49,000 Total operating expenses 194,000 122,000 Income before income taxes 106,000 % 90,000 Income tax expense 33,000 22,600 Net income $ 73,000 % $ 67,400

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