Save Homework: Chapter 15 Homework Score: 0 of 1 pt 2 of 3 (0 complete) HW Score: 0%, 0 of 3 pts Question Help P15-24A (similar to) The McConnell 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 es the industry average data for retailers. (Click the icon to view the income statement.) (Click the icon to view the balance sheet.) i Data Table Read the coguirements McConnell Department Stores, Inc. Balance Sheet Compared with Industry Average December 31, 2018 Industry McConnell Average $ 70.9% 23.6 Current Assets Property, Plant, and Equipment, Net Intangible Assets, Net Other Assets 330,260 125.440 9800 24,500 490,00D 0.8 4.7 100.0 % Tolal Assets Requirement 1. Prepare a vertical analysis for McConnell for both its income statement and balance sheet Begin by preparing a vertical analyss for McConnell for ils income statement. (Round the percent of total amounts to one decimal place, X.X%) McConnell Department Stores, Inc. Income Statement i Data Table Year Ended December 31, 2018 Amount Percent of Total Net Sales Revenue 776,000 McConnell Department Stores, Inc. Cost of Goods Sold 523,800 Income Statement Compared with Industry Average Gross Profit 252,200 Year Ended December 31, 2018 160,832 Industry Operating Expenses McConnell Average Operating income 91,568 Other Expenses 6,984 Net Sales Revenue $ 776,000 100.0 % 84 584 Cast of Goods Sold 523,800 Net Income Grass Pralit 252,200 34.2 160,532 A Requirements Operating Expenses Operating Income 91,568 Other Expenses 1. Prepare a vertical analysis for McConnell for both its income statement and $ 84,584 14.1 % Net Income balance sheet 2. Compare the comany's profit performance and financial position with the average for the industry Print Done Enter any number ini Print Done remaining Clear All 48.1 % 16.6 Current Liabilities Long-term Liabilities Total Liabilities Stockholders' Equity 229 320 112.700 342020 147 900 490.000 197 64.7 35.3 $ Total Liabilities and Stockholders' Four 100.0 % Print Done 3 part Check