3. The Mackys Department Stores, Inc., owner has asked you to compare the company's profit performance and financial position with the average for the industry. The owner has provided you with the businesses income statement and balance sheet (found on page 2), as well as the industry average data for retailers. a. Prepare a vertical analysis for Macky's Department Store for both its income statement and balance sheet. b. Now analyze their liquidity by calculating Macky's i. Current Ratio ii. Compare the figure with the industry ratios Is Macky s financial position better or worse than the industry average? c. Then conduct a profitability analysis, compute Macky's i. Gross Profit Margin ii. Net Profit Margin ratio iii. Compare these figures with the industry averages. ls Macky's profit performance better or worse than the industry averages? d. Finally compute McConnell's their level of leverage iii. Debt-to-Equity ratio iv. Compare these figures with the industry ratios. Is Macky's financial position better or worse than the industry averages