Exercise 13-04 (Video) Operating data for Riverbed Corp are presented below. Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income 2020 $880,000 618,640 126,720 61,600 30,800 42,240 2019 $540,000 336,420 64,800 39,420 22,680 76,680 Prepare a schedule showing a vertical analysis for 2020 and 2019. (Round percentages to 1 decimal place, e.g. 12.1%.) RIVERBED CORP Condensed Income Statement For the Years Ended December 31 V 2020 2019 Amount Percent Amount Percent Sales $880,000 % $540,000 % Cost of goods sold 618,640 % 336,420 % Gross profit 261,360 % 203,580 % Selling expenses 126,720 % 64,800 % Administrative expenses 61,600 % 39,420 % Total operating expenses 188,320 % 104,220 % Income before income taxes 73,040 % 99,360 % Income tax expense 30,800 % 22,680 % Net income $ 42,240 % $ 76,680 %