1. Vertical Analysis 2. Two income statements for Versatile Company follow: 3. Versatile Company Income Statements For the Years Ended December 31 4. 2045 2014 5. Fees earned $850,000 $720,000 554,400 629,000 Operating expenses 6. Income from operations $221,000 $165,600 7. 8. 9. a. Prepare a vertical analysis of Versatile Company's income statements. Enter percents as whole numbers. Versatile Company Income Statements For the Years Ended December 31 20Y5 Amount 2015 Percent 2014 Amount 20Y4 Percent 10. 11. Fees earned $850,000 $720,000 % Operating expenses 629,000 % 554,400 % 12. Income from operations $221,000 % $165,600 % 13. 14. b. Does the vertical analysis indicate a favorable or an unfavorable trend? 15. Previous Next Progress: 12/15 items Time Remaining: 1:21:48 All work saved. Email Instructor Submit Test for Grad