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Operating data for Joshua Corporation are presented below. 2020 2019 Sales revenue $755,000 $600,000 Cost of goods sold 463,570 391,800 Selling expenses 123,820 76,800 Administrative expenses 58,890 55,800 Income tax expense 31,710 23,400 Net income 77,010 52,200 Prepare a schedule showing a vertical analysis for 2020 and 2019. (Round answers to 1 decimal place, e.g. 48.5%.) JOSHUA CORPORATION Condensed Income Statements For the Years Ended December 31 2020 2019 Amount Percent Amount Percent Sales revenue $755,000 % $600,000 % Cost of goods sold 463,570 % 391,800 % Gross profit 291,430 % 208,200 % Selling expenses 123,820 % 76,800 % Administrative expenses 58,890 % 55,800 % Total operating expenses 182,710 % 132,600 % Income before income taxes 108,720 % 75,600 % Income taxes expense 31,710 % 23,400 % Net income $77,010 % $52,200 %