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Operating data for Joshua Corporation are presented below. Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income 2020 $749,000
Operating data for Joshua Corporation are presented below. Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income 2020 $749,000 467,376 118,342 58,422 29,211 75,649 2019 $603,000 390,744 69,948 59,094 26,532 56,682 Prepare a schedule showing a vertical analysis for 2020 and 2019. (Round answers to I decimal place. 6.3. 48.5%.) JOSHUA CORPORATION Condensed Income Statements For the Years Ended December 31 2020 2019 Amount Percent Amount Percent Sales revenue $749,000 % $603,000 % Cost of goods sold 467,376 % 390,744 % Condensed Income Statements For the Years Ended December 31 2020 Amount Percent Amount $749,000 $603,000 2019 Percent % 467,376 9 390,744 % 281,624 % 212.256 % Sales revenue Cost of goods sold Gross proft Selling expenses Administrative expenses Total operating expenses 118,342 % 69.948 % 58.422 % 59,094 % 176.764 % 129.042 % Income before income taxes 104,860 % 83.214 9 Income taxes expense 29.211 % 26.532 % Net income $75,649 9 $56,682 %
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