the ambrose department stores, inc. CEO has asked you to compare thr 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.

Requirement 1. prepare a vertical analysis for ambrose for both its income statement and balance sheet.

Begin by preparing a vertical analysis for Ambrose for its income statement.

i Data Table Ambrose Department Stores, Inc. ei Income Statement Compared with Industry Average Year Ended December 31, 2024 ud Industry Average Ambrose $ 100.0 % Net Sales Revenue 784,000 529,984 65.8 Cost of Goods Sold 34.2 Gross Profit 254,016 159,936 19.7 Operating Expenses Operating Income 94,080 14.5 5,488 0.4 Other Expenses $ 88,592 14.1 % Net Income Print Done i Data Table asked view ti Ambrose Department Stores, Inc. Balance Sheet Compared with Industry Average December 31, 2024 ncome sth Ir example, Industry Average cement Ambrose 325,920 70.9 % Current Assets 23.6 123,840 5,760 24,480 Property, Plant, and Equipment, Net Intangible Assets, Net 0.8 4.7 Other Assets 480,000 100.0 % Total Assets 224,640 108,480 48.1 % 16.6 Current Liabilities Long-term Liabilities Total Liabilities 333,120 64.7 % Answer. Print Done ew December 31, 2024 Industry Average Ambrose me sta $ 325,920 70.9% rex ent.( Current Assets 123,840 23.6 Property, Plant, and Equipment, Net Intangible Assets, Net 5,760 0.8 24,480 4.7 Other Assets 480,000 100.0 % Total Assets Current Liabilities 224,640 108,480 48.1 % 16.6 Long-term Liabilities Total Liabilities 333,120 146,880 64.7 35.3 Stockholders' Equity 480,000 100.0 % Total Liabilities and Stockholders' Equity Ambrose Department Stores, Inc. Income Statement Year Ended December 31, 2024 Amount Percent of Total Net Sales Revenue $ % 784,000 529,984 Cost of Goods Sold % Gross Profit 254,016 % Operating Expenses 159,936 % Operating Income % 94,080 5,488 Other Expenses % Net Income $ 88,592 %