A condensed income statement for Corolla Corporation and a partially completed vertical analysis are presented below.

Required:

Complete the vertical analysis by computing each missing line item as a percentage of sales revenues.

Does Corolla's Cost of Goods sold for the current year, as a percentage of revenues, represent better or worse performance as compared to that for the previous year?

Has Corolla"s net profit margin increased, or decreased, over the two years?

Complete this question by entering your answers in the tabs below.

Required $1$

Required $3$

Complete the vertical analysis by computing each missing line item as a percentage of sales revenues. $($Round your answers to the nearest whole percent.$)$

$\backslash$table$[[$COROLLA CORPORATION$],[$Income Statement $($summarized$)],[($in millions of U$.$S$.$ dollars$)],[,$Current Year,Previous Year$],[$Sales Revenues,$$,2,085,100,\%,$$$,2,155,100,\%$