Question: Prepare vertical analysis Operating data for Joshua Corporation are presented below. 2020 Net sales $800,000 2019 $600,000 Cost of goods sold 520,000 408,000 Selling expenses

Prepare vertical analysis Operating data for Joshua Corporation are presented below. 2020 Net sales $800,000 2019 $600,000 Cost of goods sold 520,000 408,000 Selling expenses 120,000 72,000 Administrative expenses 60,000 48,000 Income tax expense 30,000 24,000 Net income 70,000 48,000 Instructions Prepare a detailed schedule showing a vertical analysis for 2020 and 2019. NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?", and any necessary titles and line items. 2020 2019 Amount Percent Amount Percent Value ? Value ? Value ? Value ? ? ? ? ? Value ? Value ? Value ? Value ? ? ? ? ? Value ? Value ? Value ? Value

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