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Joshua Corporation ; 2020 2019 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 tax expense 37,650 20,468 Net income 65,511 52,976 Prepare a schedule showing a vertical analysis for 2020 and 2019
Joshua Corporation ;
2020 2019
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 tax expense 37,650 20,468
Net income 65,511 52,976
Prepare a schedule showing a vertical analysis for 2020 and 2019. (Round answers to 1 decimal place, e.g. 48.5%.)
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