Exercise 14-4 Operating data for Joshua Corporation are presented below. 2020 2019 Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income $749,000 467,376 118,342 58,422 29,211 75,649 $603,000 390,744 69,948 59,094 26,532 56,682 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 2020 Amount Percent Amount 2019 Percent Sales revenue $749,000 $603,000 Cost of goods sold 467,376 390,744 Gross profit 281,624 212,256 Selling expenses 118,342 69,948 Administrative expenses 58,422 59,094 Total operating expenses 176,764 129,042 Income before income taxes 104,860 83,214 Income taxes expense 29,211 26,532 Net income $75,649 $56,682 Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your ins Question Attempts: 0 of 1 used SAVE FOR LATER SUE % Earn Maximum Points available only if you answer this question correctly in your first attempt