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Operating data for Riverbed Corp are as follows. Sales revenue Cost of goods sold Selling...

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Operating data for Riverbed Corp are as follows. Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income 2022 $880,000 618,640 126,720 61,600 30,800 42.240 2021 $540,000 336,420 64,800 39,420 22.680 76,680 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, eg. 12.1%.) RIVERBED CORP Condensed Income Statement 2022 Percent 2021 Percent Amount Amount $880,000 Sales % $540,000 % 618.640 % 336,420 Cost of goods sold Gross profit 261,360 203.580 % Selling expenses 126,720 % 64,800 % Administrative expenses 61,600 % 39,420 % 188,320 % 104,220 % Total operating expenses Income before income taxes Income tax expense 73,040 % 99,360 % 30,800 % 22,680 % Net income $ 42,240 % $ 76,680 %

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