Score: 0 of 1 pt 2 of 3 (1 complete) 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 and balance sheet as well as the industry average data for retailers. EBB (Click the ioon to view the income statement)EB (Click the icon to view the balance sheet.) Read the requirements. Requirement 1. Prepare a vertical analysis for McConnell for both its income statement and balance sheet. Begin by preparing a vertical analysis for McConnel for its income statement Round the percent of total amounts to one decimal place, XX McConnell Department Stores, Inc. Income Statement Year Ended December 31, 2018 Amount Percent of Total Net Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Operating Income Other Expenses Net Income $783,000 526,176 256,824 61,298 95,526 3,915 91,611