Hello, I need some help with the exercise below. Please solve the "Requirements" (see second picture). Thank you very much, really appreciate it.

CUE BALL BILLIARDS EMPORIUM Balance Sheet Compared with Industry Average December 31, 2010 Industry Cue Ball Average Current assets $403,000 74.2% Plant assets, net 114,000 20.2% Intangible assets, net 38,000 0.7% Other assets 12,000 4.9% Total assets $567,000 100.0% Current liabilities $221,000 35.8% Long-term liabilities 130,000 19.0% Stockholders' equity 216,000 45.2% Total liabilities and stockholders' equity $567,000 100.0% Requirements 1. Prepare a two-column, common-size income statement and a two- column common-size balance sheet for Cue Ball Billiards Emporium. The first column of each statement should present Cue Ball's common-size statement and the second column should show the industry averages. 2. For the profitability analysis, examine Cue Ball's (a) ratio of gross profit to net sales, (b) ratio of operating income to net sales, and (c) ratio of net income to net sales. Compare these figures with the industry averages. Is Cue Ball's profit performance better or worse than the industry average? 3. For the analysis of financial position, examine Cue Ball's (a) ratio of current assets to total assets, (b) ratio of stockholders' equity to total assets. Compare these ratios with the industry averages. Is Cue Ball's financial position better or worse than the industry average?P14-28B. Cue Ball Billiards Emporium asked for your help in comparing the company's profit performance and financial position with the average for the industry. The proprietor gave you the company's income state- ment and balance sheet and also the industry average data. CUE BALL BILLIARDS EMPORIUM Income Statement Compared with Industry Average Year Ended December 31, 2010 Industry Cue Ball Average Net sales $861,000 100.0% Cost of goods sold 572,000 65.4% Gross profit 289,000 34.6% Operating expenses 231,000 26.4% Operating income 58,000 8.2% Other expenses 4,000 0.5% Net income $ 54,000 7.7% continued