Listed is the 2018 income statement and other financial data for Perez \& Serrano Co. Perez \& Serrano Co. for the S, MVPS] Other financial Data for Perez \& Serrano Co. REQunner Part I Using Excel or any other electronic sheet; prepare the Common Sized Income Statement for Perez \& Serrano Co. Part II Compute the followings profitability ratios, compare with the industry and evaluate the performance of the Perez \& Serrano, Inc, using the scale: better, on par or worse. a. Gross profits ratio = b. Operating profits margin = c. Net profit margin = Part III If the gross profits ratio for Perez \& Serrano Co0, is worse than the industry's gross profit ratio. You are the financial analyst for Perez \& Serrano Co. and the management ask you a recommendation for improve that ratio. What would you recommend? Why