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CP 13-4 Assume you are an accountant analysing Escalade Corporation. Escalade has expanded its production facilities by 200% since 2017. Its income statements for the last three years are as follows: Escalade Corporation Income Statement For the Years Ending December 31 2020 $250 190 2019 $150 100 2018 $120 60 Sales Cost of goods sold Gross profit Other expenses Net income 35 $25 34 $16 35 $ 25 Required: 1. Prepare a vertical analysis of Escalade Corporation's income statement for the three years. 2. What conclusions can be drawn from this analysis? CP 13-4 Assume you are an accountant analysing Escalade Corporation. Escalade has expanded its production facilities by 200% since 2017. Its income statements for the last three years are as follows: Escalade Corporation Income Statement For the Years Ending December 31 2020 $250 190 2019 $150 100 2018 $120 60 Sales Cost of goods sold Gross profit Other expenses Net income 35 $25 34 $16 35 $ 25 Required: 1. Prepare a vertical analysis of Escalade Corporation's income statement for the three years. 2. What conclusions can be drawn from this analysis