A condensed income statement for Trident Shipping 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. 2. Does Trident'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? 3. Has Trident'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 2 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.) TRIDENT SHIPPING Income Statement (summarized) (in millions of U.S. dollars) Current Year $ 2,060 100% Previous Year Sales Revenues $ 2,455 100% Cost of Goods Sold 1,537 75% 1,821 % 433 % 446 18 % 43 21% 15 1% Selling, General, and Administrative Expenses Other Operating Expenses Interest Expense Income before Income Tax Expense Income Tax Expense 12 % 16 1 % 35 % 157 % ON 5 0 % 24 1% Net Income $ 30 % $ 133 %