Challenge Exercise 18-02 a Operating data for Poll Corporation are presented below. Net sales Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income 2020 2019 $900,000 $710,000 576,000 454,400 135,000 92,300 81,000 63,900 32,400 29,820 75,600 69,580 (a) Prepare a schedule showing a vertical analysis for 2020 and 2019. (Round answers to POLL CORPORATION Condensed Income Statements For the Years Ended December 31 2020 Amount Percent Amount 2019 Percent Sales $900,000 % $710,000 % Cost of goods sold 576,000 % 454,400 Gross profit % 324,000 % 255,600 Selling expenses % 135,000 % 92,300 Administrative expenses % 81,000 % 63,900 Total operating expenses % 216,000 % 156,200 Income before income taxes % 108,000 % 99,400