8:57 PM Mon Dec 7 Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income edugen.wileyplus.com 2019 $602,000 2020 $753,000 462,342 394,912 124,245 75,852 63,252 57,792 37,650 20,468 65,511 52,976 Prepare a schedule showing a vertical analysis for 2020 and 2019. (Round answers to 1 decimal place, e.g. 48.5%.) JOSHUA CORPORATION Condensed Income Statements For the Years Ended December 31 Sales revenue 2020 Amount Percent $753,000 2019 Amount Percent $602,000 % % Cost of goods sold 462,342 394,912 % % Gross profit 290,658 207,088 0/ % % Selling expenses 124,245 75,852 % % Administrative expenses 63,252 57,792 % % Total operating expenses 187,497 133,644 % % Income before income taxes 103,161 73,444 % % Income taxes expense Net income 37,650 20,468 % % $65,511 $52,976 % % 1 61%