Exercise 13-04 (Video) Your answer is partially correct. Try again. Operating data for Indigo Corporation are presented below. Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income 2020 $810,000 535,410 124,740 59,940 27,540 62,370 2019 $590,000 371,700 66,080 44,840 24,190 83,190 Prepare a schedule showing a vertical analysis for 2020 and 2019. (Round per INDIGO CORPORATION Net income Prepare a schedule showing a vertical analysis for 2020 and 2019. (Round percentages to 1 INDIGO CORPORATION Condensed Income Statement For the Years Ended December 31 2020 2019 Amount Percent Amount Percent > Sales $810,000 % $590,000 % X Cost of goods sold 535,410 % 371,700 % X Gross profit 274,590 % 218,300 % Selling expenses 124,740 % 66,080 % Administrative expenses 59,940 % 44,840 % Dc Total operating expenses 184,680 % 110,920 % Income before income taxes 89,910 X % 107,380 % X Income tax expense 27,540 % 24,190 % X Net income $ 62,370 % $ 83,190 % Click if you would like to Show Work for this question: Open Show Work