Question: Question 1 Prepare vertical analysis Operating data for Joshua Corporation are presented below. 2020 2019 Net sales $800,000 $600,000 Cost of goods sold 520,000 408,000

Question 1
Prepare vertical analysis
Operating data for Joshua Corporation are presented below.
2020 2019
Net sales $800,000 $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.

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