prepare a schedule showing a vertical analysis for 2020 and 2019

Operating data for Blue Spruce Corp. are presented below. 2020 2019 Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income $850,000 595,000 131,750 65,450 30,600 27,200 $640,000 433,920 73,600 52,480 27,520 52,480 Prepare a schedule showing a vertical analysis for 2020 and 2019. (Round percentages to 1 decimal place, e.g. 12.1%.) BLUE SPRUCE CORP. Condensed Income Statement 2020 2019 Amount Percent Amount Percent Sales $850,000 $640,000 Cost of goods sold 595,000 433,920 Gross profit 255,000 206,080 Selling expenses 131,750 73,600 Administrative expenses 65,450 52,480 Total operating expenses 197,200 126,080 Income before income taxes 57,800 80,000 Income tax expense 30,600 27,520 Net income $ 27,200 % $ 52,480