Requirement 2. Compare the company's profit performance and financial position with the average for the industry. Ambrose's gross profit percentage and profit margin ratio are both _________(higher than, less than, or the same as) the industry average which indicates a (n) __________ (comparable, favorable or unfavorable) profit performance as compared with the industry.

The Ambrose Department Stores, Inc. chief executive officer (CEO) has asked you to compare the company's profit performance and financial position with the averages for the industry. The CEO has given you the company's income statement and balance sheet as well as the industry average data for retailers. Begin by preparing a vertical analysis for Ambrose for its income statement. (Round the percent of total amounts to one decimal place, X.X, and do not enter the %. For example, enter 10.1% as 10.1.) Ambrose Department Stores, Inc. Income Statement Year Ended December 31, 2024 Amount Percent of Total Net Sales Revenue $ 100.0 % 784,000 529,984 67.6 % Cost of Goods Sold Gross Profit 32.4 % 254,016 159,936 20.4 % Operating Expenses Operating Income 12.0 % 94,080 5,488 Other Expenses 0.7 % Net Income $ 88,592 11.3 % Balance Sheet December 31, 2024 Amount Percent of Total Current Assets $ 325,920 67.9 % 123,840 25.8 % Property, Plant, and Equipment, Net Intangible Assets, Net 1.2 % 5,760 24,480 5.1 Other Assets % $ Total Assets 480,000 100.0 % Current Liabilities $ 46.8 % 224,640 108,480 22.6 % Long-term Liabilities Total Liabilities 333,120 146,880 69.4 % 30.6 oz 0lt... Amount Percent of 67.9 % $ Current Assets 25.8 % Property, Plant, and Equipment, Net Intangible Assets, Net 325,920 123,840 5,760 24,480 1.2 % 5.1 % Other Assets $ 480,000 100.0 % Total Assets Current Liabilities 224,640 108,480 16.8 % 22.6 % Long-term Liabilities Total Liabilities 69.4 % 333,120 146,880 Stockholders' Equity 30.6 % $ Total Liabilities and Stockholders' Equity 480,000 100.0 % Long-term Liabilities Total Liabilities 333,120 140,000 Stockholders' Equity 480.000 Total Liabilities and stockholders' Requirement 2. Compare the company's profit performance and higher than oss than the same on for the industry the industry average which indices prot performance as compared with the industry Ambrow's gross profe percentage and profit margin ratio are both Total Liabilities 333.120 69.4% 146,880 306 Stockholders' Equity % 480,000 1000 Total Liabilities and Stockholders' Equity Requirement 2. Compare the company's proht performance and financial position with the average for the industry comparable favorable unfavorable Ambrose's gross proft percentage and profit marginato are both the industry werage, which indicates ain) profit performance as compared with the industry The Ambrose Department Stores, Inc. chief executive officer (CEO) has asked you to compare the company's profit performance and financial position with the averages for the industry. The CEO has given you the company's income statement and balance sheet as well as the industry average data for retailers. Begin by preparing a vertical analysis for Ambrose for its income statement. (Round the percent of total amounts to one decimal place, X.X, and do not enter the %. For example, enter 10.1% as 10.1.) Ambrose Department Stores, Inc. Income Statement Year Ended December 31, 2024 Amount Percent of Total Net Sales Revenue $ 100.0 % 784,000 529,984 67.6 % Cost of Goods Sold Gross Profit 32.4 % 254,016 159,936 20.4 % Operating Expenses Operating Income 12.0 % 94,080 5,488 Other Expenses 0.7 % Net Income $ 88,592 11.3 % Balance Sheet December 31, 2024 Amount Percent of Total Current Assets $ 325,920 67.9 % 123,840 25.8 % Property, Plant, and Equipment, Net Intangible Assets, Net 1.2 % 5,760 24,480 5.1 Other Assets % $ Total Assets 480,000 100.0 % Current Liabilities $ 46.8 % 224,640 108,480 22.6 % Long-term Liabilities Total Liabilities 333,120 146,880 69.4 % 30.6 oz 0lt... Amount Percent of 67.9 % $ Current Assets 25.8 % Property, Plant, and Equipment, Net Intangible Assets, Net 325,920 123,840 5,760 24,480 1.2 % 5.1 % Other Assets $ 480,000 100.0 % Total Assets Current Liabilities 224,640 108,480 16.8 % 22.6 % Long-term Liabilities Total Liabilities 69.4 % 333,120 146,880 Stockholders' Equity 30.6 % $ Total Liabilities and Stockholders' Equity 480,000 100.0 % Long-term Liabilities Total Liabilities 333,120 140,000 Stockholders' Equity 480.000 Total Liabilities and stockholders' Requirement 2. Compare the company's profit performance and higher than oss than the same on for the industry the industry average which indices prot performance as compared with the industry Ambrow's gross profe percentage and profit margin ratio are both Total Liabilities 333.120 69.4% 146,880 306 Stockholders' Equity % 480,000 1000 Total Liabilities and Stockholders' Equity Requirement 2. Compare the company's proht performance and financial position with the average for the industry comparable favorable unfavorable Ambrose's gross proft percentage and profit marginato are both the industry werage, which indicates ain) profit performance as compared with the industry