Exercise 18-04 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 $750,000 467,250 117,750 59,250 30,750 75,000 $603,000 385,920 68,139 51,255 24,723 72,963 Prepare a schedule showing a vertical analysis for 2020 and 2019. (Round answers to 1 decimal place, eg, 48.5%.) OSHUA CORPORATION Condensed Income Statements For the Years Ended December 31 2020 2019 Amount Percent Amount Percent Sales revenue $750,000 Cost of goods sold Gross proft Selling expenses $603,000 385,920 217,080 68,139 51,255 467,250 282,750 117,750 Administrative expenses 59,250 Total operating expenses 177,000 119,394 Income before income taxes 105,750 97,686 24,723 $72,963 Income taxes expense 30,750 Net income $75,000