Question: Exercise 13-04 (Video) Operating data for Ayayai Corp. are presented below. Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense Net

Exercise 13-04 (Video) Operating data for Ayayai Corp. are presented below.

Exercise 13-04 (Video) Operating data for Ayayai Corp. are presented below. Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income 2020 $840,000 584,640 127,680 62,160 30,240 35,280 2019 $550,000 364,100 66,000 46,750 22,000 51,150 Prepare a schedule showing a vertical analysis for 2020 and 2019. (Round percentages to 1 decimal place, e.g. 12.1%.) AYAYAI CORP. Condensed Income Statement 2020 2019 Amount Percent Amount Percent Sales $840,000 100 % $550,000 100 % Cost of goods sold 584,640 100 % 364,100 100 % Gross profit 255,360 % 185,900 % Selling expenses 127,680 % 66,000 % Administrative expenses 62,160 % 46,750 % Total operating expenses 189,840 % 112,750 % Income before income taxes 65,520 % 73,150 % Income tax expense 30,240 % 22,000 % Net income $ 35,280 % $ 51,150 % Click if you would like to Show Work for this question: Open Show Work

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