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A condensed income statement for Trident Shipping and a partially completed vertical analysis are presented below. Required: 1. Complete the vertical analysis by computing each missing line item as a percentage of sales revenues 2. Does Trident's Cost of Goods sold for the current year, as a percentage of revenues, represent better or worse performance as compared to that for the previous year? 3. Has Trident's net profit margin increased, or decreased over the two years? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Complete the vertical analysis by computing each missing line item as a percentage of sales revenues (Round your answers to the nearest whole percent.) $ 100% 78% TRIDENT SHIPPING Income Statement (summarized) (in millions of US dollars) Current Year Sales Revenues $ 2,075 Cost of Goods Sold 1.617 Selling, General, and Administrative Expenses 353 Other Operating Expenses 57 Interest Expense 26 Income before Income Tax Expense 22 Income Tax Expense 8 Net Income $ 14 Previous Year 2.250 100% 1.741 % 366 16% 195 14 24 11% % 3% % 11% 0 % % 5 % 105 34 71 2% %