Question: Prepare a schedule showing a vertical analysis for 2020 and 2019. (Round answers to 1 decimal place, e.g. 48.5%.) JOSHUA CORPORATION Condensed Income Statements For

Prepare a schedule showing a vertical analysis for 2020 and 2019. (Round answers to 1 decimal place, e.g. 48.5%.) JOSHUA CORPORATION Condensed Income Statements For the Years Ended December 31 2020 Amount Percent Amount 2019 Percent Sales revenue $753,000 $602,000 % % Cost of goods sold 462,342 394,912 % % Gross profit 290,658 % 207,088 Selling expenses 124,245 75,852 % % Administrative expenses 63,252 % 57,792 % Total operating expenses 187,497 133,644 % % Income before income taxes 103,161 % 73,444 % Income taxes expense 37,650 20,468 % % Net income $65,511 $52,976 % Click if you would like to Show Work for this question: Open Show Work

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