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Operating data for Concord Corporation are presented belovw 2019 2018 Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income
Operating data for Concord Corporation are presented belovw 2019 2018 Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income $830,000 553,610 127,820 58,100 31,540 58,930 $560,000 366,240 62,720 43,680 21,280 66,080 Prepare a schedule showing a vertical analysis for 2019 and 2018. (Round percentages to 1 decimal place, eg, 12.1%.) CONCORD CORPORATION Condensed Income Statement For the Years Ended December 31 2019 2018 Amount $830,000 553,610 276,390 127,820 58,100 185,920 Income before income taxes 90,470 31,540 $58,930 Percent Amount 96 $560,000 % 366,240 193,760 62,720 43,680 106,400 87,360 21,280 % $66,080 Percent Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Income tax expense Net income
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