Operating data for Marigold Corp. are presented below.

Operating data for Marigold Corp. are presented below 2020 2019 Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income $780,000 478,920 120,120 56,160 28,080 96,720 $580,000 409,480 67,860 49,300 23,200 30,160 Prepare a schedule showing a vertical analysis for 2020 and 2019, (Round percentages to 1 decimal place, eg. 12.1%.) MARIGOLD CORP. Condensed Income Statement 2020 2019 Amount Percent Amount Percent Sales $780,000 162.86 % $580,000 Cost of goods sold 478,920 10 1190 409,480 Gross profit 301,080 170,520 Selling expenses 120,120 67,860 Administrative expenses 56,160 49,300 Total operating expenses 176,280 % 117,160 Income before income taxes 124,800 53,360 Income tax expense 28,080 23,200 Net income $96,720 % $30,160 Click if you would like to Show Work for this question: Open Show Work