Operating data for Indigo Corporation are presented below. 2020 2019 Sales revenue $810,000 $590,000 535,410 371,700 Cost of goods sold Selling expenses 124,740 66,080 Administrative expenses 59,940 44,840 27,540 24,190 Income tax expense Net income 62,370 83,190 Prepare a schedule showing a vertical analysis for 2020 and 2019, (Round percentages to 1 decimal place, eg 121%) INDIGO CORPORATION Condensed Income Statement 2019 2020 Amount Percent Amount $810,000 % $590,000 535,410 Cost of goods sold % 371,700 Gross profit 274,590 % 218,300 Selling expenses 124,740 % 66,080 Administrative expenses 59,940 44,840 Total operating expenses 184,680 % 110.920 Income before income taxes 89,910 % 107,380 % 24.190 Income tax expense 27,540 % $83.190 Net income $62,370 Operating data for Indigo Corporation are presented below. 2020 2019 Sales revenue $810,000 $590,000 535,410 371,700 Cost of goods sold Selling expenses 124,740 66,080 Administrative expenses 59,940 44,840 27,540 24,190 Income tax expense Net income 62,370 83,190 Prepare a schedule showing a vertical analysis for 2020 and 2019, (Round percentages to 1 decimal place, eg 121%) INDIGO CORPORATION Condensed Income Statement 2019 2020 Amount Percent Amount $810,000 % $590,000 535,410 Cost of goods sold % 371,700 Gross profit 274,590 % 218,300 Selling expenses 124,740 % 66,080 Administrative expenses 59,940 44,840 Total operating expenses 184,680 % 110.920 Income before income taxes 89,910 % 107,380 % 24.190 Income tax expense 27,540 % $83.190 Net income $62,370