Question: Operating data for Lily Corporation are presented below. 2 0 2 0 2 0 1 9 Net sales $ 8 9 0 , 0 0

Operating data for Lily Corporation are presented below.
20202019
Net sales $890,000 $700,000
Cost of goods sold 560,700455,000
Selling expenses 142,40091,000
Administrative expenses 80,10063,000
Income tax expense 32,04027,300
Net income 74,76063,700
(a) Prepare a schedule showing a vertical analysis for 2020 and 2019.

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