Construct common sized income statements (vertical and horizontal) for the three years. Make sure these are properly formatted in your main document an calculations shown in cell format in excel submission.

2. Analyze the structure of the income statement over the 3 years.

a. Analyze percentage changes in the company's different profit measures.

b. Analyze growth over the three years of the company's revenues.

Ionis Income Statement.xIsx Ionis Cash Flow Statement.x... \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|} \hline \multicolumn{10}{|c|}{ Waimatinc } \\ \hline \multicolumn{10}{|c|}{ Common Size hme Statement (in percent) } \\ \hline \multicolumn{10}{|c|}{ For the Years Ended January 31,2021,2020, and 2019} \\ \hline & \multicolumn{3}{|c|}{2021} & & \multicolumn{2}{|c|}{2020} & \multicolumn{3}{|c|}{2019} \\ \hline & & Amount & %ofNetSales & SYoYChange & Amount & %ofNetSales & syorChange & Amount & SofNetSales \\ \hline \multicolumn{10}{|l|}{ (in milions except per share amount) } \\ \hline NetSales & $ & 555,233 & 100.0% & 685 & 519,96 & 100% & 19% & 5510,32 & 1000: \\ \hline Cost of Sales & & Q20,315 & .7% & 6% & 334605 & 75% & & 35,301 & \\ \hline Gross Profit & $ & 134918 & 243% & 7. & 125,321 & 241% & 0z & $13,028 & 2459 \\ \hline Mermbership and other inome & & 3,918 & 0.7% & -306 & 40B8 & 08% & 0% & 4,076 & 08: \\ \hline Operating, seling, generd and administrative expenses & & 116,288 & 209% & 6% & 108,791 & 20% & 19% & 100,19 & 2100: \\ \hline Operating Profit & $ & 22,548 & 4.1% & 98% & 20,568 & 40% & 63% & 521,957 & 43: \\ \hline Interest expense, Debt finance, capita lease and finanoing obligations & & 2,315 & 0.4% & 10% & 2599 & 0.5% & 108 & 2345 & as: \\ \hline Interestincome & & 121 & 0.0% & 360% & 189 & 00% & 12% & 217 & 00: : \\ \hline Interest, net & & {[2,184)} & 0.4% & 90% & {[2419} & .09% & 138 & {[2,12)} & .040 \\ \hline Other gains and (losses) & & 210 & 0.0% & 8936 & 1,958 & 0.46 & -12348 & (8,360) & 18s \\ \hline Income be fore income taxes & & 20,564 & 3.7% & 28 & 20,116 & 396 & 75% & 11,450 & 286 \\ \hline Provision for income taxes & & 6858 & 1.2% & 395% & 4915 & Q% & 148\% & 4281 & 08: \\ \hline Consolidated net income & & 1306 & 25% & 9.8% & 15,201 & 2% & 1117 & & \\ \hline Consolidated net income attributable to noncontrol inginterest & & 196 & 0.0% & 388% & 30 & 01% & -37.18 & & \\ \hline Consolid ated net income attributable to Waimart & $ & 13,510 & 24% & -9.285 & 14881 & 2% & 123S & $ & \\ \hline \end{tabular} Ionis Balance Sheet stateme... Ionis Income Statement.xIsx Ionis Cash Flow Statement.x... \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|} \hline \multicolumn{10}{|c|}{ Waimatinc } \\ \hline \multicolumn{10}{|c|}{ Common Size hme Statement (in percent) } \\ \hline \multicolumn{10}{|c|}{ For the Years Ended January 31,2021,2020, and 2019} \\ \hline & \multicolumn{3}{|c|}{2021} & & \multicolumn{2}{|c|}{2020} & \multicolumn{3}{|c|}{2019} \\ \hline & & Amount & %ofNetSales & SYoYChange & Amount & %ofNetSales & syorChange & Amount & SofNetSales \\ \hline \multicolumn{10}{|l|}{ (in milions except per share amount) } \\ \hline NetSales & $ & 555,233 & 100.0% & 685 & 519,96 & 100% & 19% & 5510,32 & 1000: \\ \hline Cost of Sales & & Q20,315 & .7% & 6% & 334605 & 75% & & 35,301 & \\ \hline Gross Profit & $ & 134918 & 243% & 7. & 125,321 & 241% & 0z & $13,028 & 2459 \\ \hline Mermbership and other inome & & 3,918 & 0.7% & -306 & 40B8 & 08% & 0% & 4,076 & 08: \\ \hline Operating, seling, generd and administrative expenses & & 116,288 & 209% & 6% & 108,791 & 20% & 19% & 100,19 & 2100: \\ \hline Operating Profit & $ & 22,548 & 4.1% & 98% & 20,568 & 40% & 63% & 521,957 & 43: \\ \hline Interest expense, Debt finance, capita lease and finanoing obligations & & 2,315 & 0.4% & 10% & 2599 & 0.5% & 108 & 2345 & as: \\ \hline Interestincome & & 121 & 0.0% & 360% & 189 & 00% & 12% & 217 & 00: : \\ \hline Interest, net & & {[2,184)} & 0.4% & 90% & {[2419} & .09% & 138 & {[2,12)} & .040 \\ \hline Other gains and (losses) & & 210 & 0.0% & 8936 & 1,958 & 0.46 & -12348 & (8,360) & 18s \\ \hline Income be fore income taxes & & 20,564 & 3.7% & 28 & 20,116 & 396 & 75% & 11,450 & 286 \\ \hline Provision for income taxes & & 6858 & 1.2% & 395% & 4915 & Q% & 148\% & 4281 & 08: \\ \hline Consolidated net income & & 1306 & 25% & 9.8% & 15,201 & 2% & 1117 & & \\ \hline Consolidated net income attributable to noncontrol inginterest & & 196 & 0.0% & 388% & 30 & 01% & -37.18 & & \\ \hline Consolid ated net income attributable to Waimart & $ & 13,510 & 24% & -9.285 & 14881 & 2% & 123S & $ & \\ \hline \end{tabular} Ionis Balance Sheet stateme