E9-4 Prepare vertical analysis
Operating data for Joshua Corporation are presented below.
				2017	2016
	Sales revenue			#######	#######
	Cost of goods sold			520,000	408,000
	Selling expenses			120,000	72,000
	Administrative expenses			60,000	48,000
	Income tax expense			30,000	24,000
	Net income			70,000	48,000
Instructions
Prepare a schedule showing a vertical analysis for 2017 and 2016.
NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?" .
JOSHUA CORPORATION
Condensed Income Statement
For the Years Ended December 31
			2017		2016
			Amount	Percent	Amount	Percent
Sales Revenue			Value	?	Value	?
Cost of goods sold			Value	?	Value	?
Gross profit			?	?	?	?
Selling expenses			Value	?	Value	?
Administrative expenses			Value	?	Value	?
Total operating expenses			?	?	?	?
Income before income taxes			?	?	?	?
Income tax expense			Value	?	Value	?
Net income			?	?	?	?