Klein Department Stores, Inc. Balance Sheet Compared with Industry Average December 31, 2018 Industry Klein Average Current Assets 339,000 70.9 % Properti Plant, and Equipment, Net 130,000 23.6 Intangible Assets, Net 7,000 0.8 Other Assets 24,000 4.7 Total Assets 500,000 100.0 % Current Liabilities Long term Liabilities Total Labs 232,000 111,000 16.6 343,000 157.000 64.7 35.3 Stockholders' Equity Totalcalities and Stockholders' Equity 500,000 100.0 % 1214/2019 Data Table Klein Department Stores, Inc. Income Statement Compared with Industry Average Year Ended December 31, 2018 Industry Klein Average 778,000 524,372 100.0 % 65.8 Net Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Operating Income Other Expenses 253,628 159,490 34.2 19.7 14.5 94,138 6,224 0.4 Net Income 87,914 14.1 % 2 OS The Klein Department Stores, Inc. chief executive officer (CEO) has asked you to compare the company's profit performance and financial position with the industry The CEO has given you the company's income statement and balance sheet as well as the industry average data for retailers FIE Click the icon to view the income statement. (Click the icon to view the balance sheet) Read the requerents Requirement 1. Prepare a vertical analysis for Klein for both its income statement and balance sheet fogn by preparing a vertical analysis for Klein for its income statement (Round the percent of total amounts to one decimal place XX) Klein Department Stores, Inc. Income Statement Year Ended December 31, 2018 Percent of Total Klein Department Stores, Inc. Balance Sheet December 31, 2018 Amount Current Assets 339,000 Property, Plant, and Equipment, Net 130,000 Intangible Assets, Net 7,000 Other Assets 24,000 Total Assets 500,000 $ Current Liabilities Long-term Liabilities Total Liabilities Stockholders' Equity Total Liabilities and Stockholders' Equity 232,000 111,000 343,000 157,000 500,000 $ Requirement 2. Compare the company's profit performance and financial position with the average for the industry gross profit percentage and profit margin ratio are both the industry average, which indicates an) prot performancesco The showed s n umber in the o l nvestment in fed and noble assets than the industry average The company's Dec fields and then continue to the next question $ 600,000 Requirement 2. Compare the company's profit performance and financial position with the average for the industry Kin's gross profit percentage and profit margin ratio are both the industry average, which indicates an) profit performance as compared The company showed a slightly investment in foued and intangible assets than the industry average. The company's percentage of debt to totale than the industry, which would generally indicate a financial position than the avera