Problem 13-1A (Part Level Submission) Here are comparative statement data for Prince Company and King Company, two competitors. All balance sheet data are as of December 31, 2014, and December 31, 2013 Prince Company 2014 King Company 2014 2013 2013 Net sales Cost of goods sold Operating expenses Interest expense Income tax expense $1,892,400 1,082,700 266,300 7,200 68,300 $628,000 286,900 88,300 1,700 33,500 Current assets Plant assets (net) Current liabilities Long-term liabilities 739,963 $709,171189,173 $180,390 1,195,836 1,135,000 317,183 285,593 68,738 56,750 150,558 172,100 258,757204,300 80,240 67,237 Common stock, $10 par Retained earnings 1,135,000 1,135,000 272,400 272,400 391,484 332,771 86,478 68,095 (a) Your answer is correct. Collapse question part Prepare a vertical analysis of the 2014 income statement data for Prince Company and King Company. (Round all ratios to 1 decimal place, eg. 2.5%) Condensed Income Statement For the Year Ended December 31, 2014 Prince Compan King Company Dollars Percent Dollars Percent Net Sales $1,892,400 1001% $628,000 10 %