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Instructions Prepare a schedule showing a horizontal analysis for 2020, using 2019 as the base year. E18.4 (LO 2) Operating data for Joshua Corporation

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Instructions Prepare a schedule showing a horizontal analysis for 2020, using 2019 as the base year. E18.4 (LO 2) Operating data for Joshua Corporation are presented below. Instructions 2020 2019 Sales revenue $800,000 $600,000 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 Prepare a schedule showing a vertical analysis for 2020 and 2019.

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