Question: Please help fill in Operating data for Swifty Corporation are presented below. 2020 2019 Sales revenue $860,000 $550,000 Cost of goods sold 555,560 380,050 Selling

Please help fill in

Please help fill in Operating data for Swifty
Operating data for Swifty Corporation are presented below. 2020 2019 Sales revenue $860,000 $550,000 Cost of goods sold 555,560 380,050 Selling expenses 117,820 63,250 Administrative expenses 65,360 44,550 Income tax expense 31,820 23,650 Net income 89,440 38,500 Prepare a schedule showing a vertical analysis for 2020 and 2019. (Round percentages to 1 decimal place, eg. 12.19%) SWIFTY CORPORATION Condensed Income Statement 2020 2019 Amount Percent Amount Percent Sales $860,000 96 $550.000 Cost of goods sold 555,560 380,050 Gross profit 304.440 96 169.950 Selling expenses 117,820 63.250 Administrative expenses 65,360 44,550 Total operating expenses 183,180 107.800 Income before income taxes 121.260 96 62.150 Income tax expense 31,820 23.650 Net Income $ 89,440 $ 38.500 eTextbook and Media

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