A condensed income statement for Simultech Corporation and a partially completed vertical analysis are presented below. Required: 1. Complete the vertical analysis by computing each missing line item as a percentage of sales revenues. (Round your answers to the nearest whole percent.) SIMULTECH CORPORATION Income Statement (summarized) (in millions of U.S. dollars) Current Year Sales Revenues $ 2,093 100% $ Cost of Goods Sold 1,587 76 Seling, General, and Administrative Expenses 383 Other Operating Expenses 63 3 Interest Expense 32 Income before income taxes 28 1 Income Tax Expense 8 Net Income $ 20 % $ Previous Year 2.350 100% 1.771 396 17 17 1 1 21 145 35 O- 110 % 2. Does Simultech'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? Better 383 396 63 17 Seling, General, and Administrative Expenses Other Operating Expenses Interest Expense Income before income taxes Income Tax Expense Net Income 3 17 1 32 1 28 21 145 1 20 0 8 20 35 $ % $ 110 2. Does Simultech'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? Better Worse 3. Has Simultech's net profit margin has increased, or decreased over the two years? Increased Decreased