Operating data for Joshua Corporation are presented below.
2020 |
2019 |
|||
Sales revenue | $746,000 | $603,000 | ||
Cost of goods sold | 466,250 | 384,714 | ||
Selling expenses | 124,582 | 67,536 | ||
Administrative expenses | 55,204 | 54,873 | ||
Income tax expense | 37,300 | 24,120 | ||
Net income | 62,664 | 71,757 |
Prepare a schedule showing a vertical analysis for 2020 and 2019.
(Round answers to 1 decimal place, e.g.
48.5%.)
JOSHUA CORPORATION |
|||||||
2020 |
2019 |
||||||
Amount |
Percent |
Amount |
Percent |
||||
Sales revenue |
$746,000 |
% |
$603,000 |
% | |||
Cost of goods sold |
466,250 |
% |
384,714 |
% | |||
Gross profit |
279,750 |
% |
218,286 |
% | |||
Selling expenses |
124,582 |
% |
67,536 |
% | |||
Administrative expenses |
55,204 |
% |
54,873 |
% | |||
Total operating expenses |
179,786 |
% |
122,409 |
% | |||
Income before income taxes |
99,964 |
% |
95,877 |
% | |||
Income taxes expense |
37,300 |
% |
24,120 |
% | |||
Net income |
$62,664 |
% |
$71,757 |
% |
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Operating data for Joshua Corporation are presented below. 2020 2019 Sales revenue $746,000 $603,000 Cost of...
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