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  1. business
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  3. operating data for monty corp. are presented below

Operating data for Monty Corp. are presented below. Sales revenue 2020 2019 $860,000 $590,000 580,500...

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Operating data for Monty Corp. are presented below. Sales revenue 2020 2019 $860,000 $590,000 580,500 428,340 Cost of goods sold Selling expenses 128,140 61,920 74,340 44,840 Administrative expenses Income tax expense 31.820 57,620 25,960 16,520 Net income Prepare a schedule showing a vertical analysis for 2020 and 2019. (Round percentages to 1 decimal place, e.g. 12.1%.) MONTY CORP. Condensed Income Statement 2020 2019 Amount Percent Amount Percent Sales $860,000 % $590,000 Cost of goods sold 580,500 % 428,340 Gross profit 279,500 % 161,660 Selling expenses 128,140 % 74,340 Administrative expenses 61,920 44,840 Total operating expenses 190,060 % 119,180 Income before income taxes 89,440 42,480 Income tax expense 31,820 % 25,960 Net income $ 57,620 % $ 16,520

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