ryx a) Express this information as vertical trend percents. Please make sure your final answer(s) are in percentage form and are accurate to 2 decimal places. (For example: 12.34%) Gulf Corp. Income Statement Vertical Trend Percentages (%) 2023 2025 2024 2023 IA Sales Fir Cost of goods sold Sh of Gross profit from sales Operating expenses Income before tax Income taxes expense Net income 2025 2024 $1,661,000 $1,490,000 $1,372,000 1,369,000 1,285,000 1,213,000 292,000 205,000 159,000 155,000 135,000 110,000 137,000 70,000 49,000 41,000 20,000 14,000 $96,000 $50,000 $35,000 Gulf Corp. Balance Sheet Cash Accounts receivable, net Prepaid expenses Merchandise inventory Plant assets, net Total assets Accounts payable Long-term notes payable 2025 2024 2023 $383,000 $339,000 $253,000 116,000 103,000 89,000 242,000 204,000 175,000 213,000 189,000 176,000 329,000 309,000 290,000 $1,283,000 $1,144,000 $983,000 $170,000 $152,000 $128,000 463,000 403,000 362,000 Vertical Trend Percentages (%) 2025 2024 2023 3238 04.04 Gulf Corp. Balance Sheet al A Cash Accounts receivable, net SS Fir Sh Prepaid expenses of ch Plant assets, net Total assets Merchandise inventory. Li Accounts payable E S Long-term notes payable Share capital (100,000 issued). Retained earnings ti Total liabilities and equity 2025 2024 2023 $383,000 $339,000 $253,000 116,000 103,000 89,000 242,000 204,000 175,000 213,000 189,000 176,000 329,000 309,000 290,000 $1,283,000 $1,144,000 $983,000 $170,000 $152,000 $128,000 463,000 403,000 362,000 175,000 146,000 124,000 475,000 443,000 369,000 $1,283,000 $1,144,000 $983,000 Vertical Trend Percentages (%) 2025 2024 2023 b) Assuming all other things are constant, indicate whether the vertical trend between net income and operating expenses is favourable or unfavourable. The vertical trend is (select one)