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Operating data for Joshua Corporation are presented below. 2020 2019 Sales revenue $755,000 $604,000Cost of goods sold 464,325 386,560Selling expenses 118,535 75,500Administrative expenses 58,135 54,360Income

Operating data for Joshua Corporation are presented below.

2020

2019

Sales revenue

$755,000

$604,000Cost of goods sold

464,325

386,560Selling expenses

118,535

75,500Administrative expenses

58,135

54,360Income tax expense

37,750

24,764Net income

76,255

62,816

schedule showing a vertical analysis for 2020 and 2019. (Round answers to 1 decimal place, e.g. 48.5%.)

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