Question 1
Prepare vertical analysis
Operating data for Joshua Corporation are presented below.
				2020		2019
	Net sales		$800,000		$600,000
	Cost of goods sold	520,000		408,000
	Selling expenses		120,000		72,000
	Administrative expenses	60,000		48,000
	Income tax expense	30,000		24,000
	Net income		70,000		48,000
Instructions
Prepare a detailed schedule showing a vertical analysis for 2020 and 2019.
NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?",
	and any necessary titles and line items.