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 $ 2,110 100% $ Cost of Goods Sold 1,677 79 Selling. General, and Administrative Expenses 285 Other Operating Expenses 65 3 Interest Expense 20 Income before income taxes 63 3 Income Tax Expense 8 0 Net Income $ 55 % $ Previous Year 2,180 100% 1,681 77 306 14 12 30 1 151 40 111 1 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? O Increased Decreased