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EO) has asked you to compare the company's profit performance and financial position with the aver ndustry icon to i Data Table baland hbrose's common- rose. Ambrose Department Stores, Inc. Income Statement Compared with Industry Average Year Ended December 31, 2024 Industry Ambrose Average Net Sales Revenue 100.0 % erage 784,000 529,200 65.8 Cost of Goods Sold 0.0 % 5.8 % Gross Profit 34.2 254,800 163,856 19.7 3.2 % Operating Expenses Operating Income 2.7% 90,944 7,840 14.5 0.4 Other Expenses 4.5% 83,104 14.1% 4% Net Income 4.1 Print Done swer. Clear All officer (CEO) has asked you to compare the company's profit performance and financial position with the avera ell as the industry average data for retailers. (Click the icon to view the balance sheet.) i Requirements X siz 1. Prepare a common-size income statement and balance sheet for Ambrose. The first column of each statement should present Ambrose's common-size statement, and the second column, the industry averages. 2. For the profitability analysis, compute Ambrose's (a) gross profit percentage and (b) profit margin ratio. Compare these figures with the industry averages. Is Ambrose's profit performance better or worse than the industry average? 3. For the analysis of financial position, compute Ambrose's (a) current ratio and (b) debt to equity ratio. Compare these ratios with the industry averages. Assume the current ratio industry average is 1.47, and the debt to equity industry average is 1.83. Is Ambrose's financial position better or worse than the industry averages? Print Done 14.1 % k Check Answer. Clear All 15 of 17 (14 complete) HWS Data Table ith the averages for the indu utive officer (CE 0 as well as their B Click the Ambrose Department Stores, Inc. Balance Sheet Compared with Industry Average December 31, 2024 statement and 's common-size statement, a tement for Ambd Industry Average Ambrose Inc. $ 70.9% ment 2024 Industry Ave 23.6 Current Assets Property, Plant, and Equipment, Net Intangible Assets, Net Other Assets 330,260 125,440 9,800 24,500 490,000 0.8 4.7 100 65. Total Assets 100.0 % 34 19. Current Liabilities $ 48.1 % 226,380 111,720 14 16.6 0 64.7 Long-term Liabilities Total Liabilities Stockholders' Equity Totallisbilities and Stockholdere Fauit 338,100 151.900 14. 35,3 $ 490,000 100.0 % click Check Ans Print Done