Current Attempt in Progress Operating data for Coronado Corporation are presented below. 2020 2019 Net sales $900,000 $700,000 Cost of goods sold 558,000 448,000 Selling expenses 144,000 91,000 A Administrative expenses 81,000 63,000 Income tax expense 35,100 29,400 Net income 81,900 68,600 pare a schedule showing a vertical analysis for 2020 and 2019. (Round answers to I decimal place, eg. 15.2. CORONADO CORPORATION Condensed Income Statements For the Years Ended December 31 Amount Sales $900,000 2020 2019 Percent Amount Percent 100.0 % $700,000 % Cost of goods sold 558,000 % % 448,000 Gross profit 342,000 % 252,000 % Selling expenses % % 91,000 144,000 Administrative expenses % 81,000 63,000 % Total operating expenses 225,000 % 154,000 % % Income before income taxes 117,000 98,000 Question 1 of 3 Sales $900,000 100.0 % $700,000 -12 E % Cost of goods sold 558,000 Gross profit % % 448,000 342,000 % % 252,000 Selling expenses % 91,000 % 144,000 -8 Administrative expenses 81,000 96 % 63,000 % Total operating expenses 225,000 % % 154,000 Income before income taxes 117,000 % 98,000 % Income taxes expense 35,100 % 29,400 % Net income $81.900 16 $68,600 % Teythank and Maris