Operating data for Joshua Corporation are presented below. 2019 Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income 2020 $751,000 464,869 120,160 60,831 29,289 75,851 $597,000 389,244 72,237 48,954 21,492 65,073 Prepare a schedule showing a vertical analysis for 2020 and 2019. (Round answers to 1 decimal plac JOSHUA CORPORATION Condensed Income Statements For the Years Ended December 31 2020 Amount Percent Amount 2019 Percent Sales revenue $751,000 % $597,000 % Cost of goods sold 464,869 % 389,244 % Gross profit 286,131 % 207,756 % Selling expenses 120,160 % 72,237 % Administrative expenses 60,831 % 48,954 % Total operating expenses 180,991 % 121,191 % Income before income taxes 105,140 % 86,565 96 Income taxes expense 29,289 % 21,492 Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income 464,869 120,160 60,831 29,289 75,851 389,244 72,237 48,954 21,492 65,073 Prepare a schedule showing a vertical analysis for 2020 and 2019. (Round answers to 1 decimal plac JOSHUA CORPORATION Condensed Income Statements For the Years Ended December 31 2020 Amount Percent Amount 2019 Percent Sales revenue $751,000 $597,000 % % Cost of goods sold 464,869 % 389,244 % Gross profit 286,131 % 207,756 % Selling expenses 120,160 % 72,237 % Administrative expenses 60,831 48,954 % % Total operating expenses 180,991 121,191 % % Income before income taxes 105,140 % 86,565 % Income taxes expense 29,289 % 21,492 % Net income $75,851 % $65,073 % Click if you would like to Show Work for this question: Open Show Work