ractice FA 20 > -/30 Question 10 of 10 View Policies Current Attempt in Progress Operating data for Joshua Corporation are presented below. 2022 2021 Sales revenue $800,000 $600,000 Cost of goods sold 520,000 408,000 Seling expenses 120,000 72,000 Administrative expenses 60,000 48.000 Income tax expense 30.000 Net Income 70,000 48.000 24.000 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, es. 12.1%) JOSHUA CORPORATION Condensed Income Statement 2022 Percent 2021 Percent Amount Amount $800,000 Sales $600,000 520.000 * Cost of goods sold 400.000 Gross profit 280.000 192.000 Selling expenses 120,000 30 72.000 MacBook Air 11 *** so FS A * # 3 $ 4 % 5 & 7 6 8 9 0 E R. 0 Y T U JOSHUA CORPORATION Condensed Income Statement 2022 Percent 2021 Percent Amount Amount $800,000 % $600,000 % 520,000 % 408,000 % 280,000 96 192.000 % 72,060 X6 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Income before income taxes 120,000 60,000 96 48.000 % 120,000 % 180,000 96 100,000 72.000 % %6 24,000 30,000 Income tax expense 96 $ 70,000 $48.000 Net income e Textbook and Media Attempts: 0 of 3 used Submit Answer Save for Lator Using multiple attempts will impact your score 5% score reduction after attempt 2