Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income 2020 $810,000 538,650 116,640 59,940 28,350 66,420 2019 $590,000 423,030 70,800 51,330 24,190 20,650 Prepare a schedule showing a vertical analysis for 2020 and 2019. (Round percentages to 1. CHEYENNE CORP. Condensed Income Statement 2019 2020 Percent Amount Amount Percent Sales $810,000 % $590,000 % Cost of goods sold 538,650 % 423,030 % Gross proft 271,350 % 166,970 % Seing expenses 116,640 % 70,800 96 Administrative expenses 59,940 % 51,330 Total operating expenses 176,580 % 122,130 Income before ncome taxes 94,770 % 44,840 96 Income tax expense 28,350 % 24,190 96 Net income $ 66,420 % $ 20,650 96 Click if you would like to Show Work for this question Oanh