The Ambrose 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 as the industry average data for retailers. Click the icon to view the balance sheet.) (Click the icon to view the income statement.) Read the requirements Ambrose's common-size statement, and the second column, the industry averages. Begin by preparing the common-size income statement for Ambrose. (Round your answers to one decimal place, X.X%) Ambrose Department Stores, Inc. Common-Size Income Statement Year Ended December 31, 2024 Ambrose Industry Average Net Sales Revenue % 100.0 % Cost of Goods Sold % 65.8% % 34.2% Gross Profit % 19.7% Operating Expenses Operating Income % 14.5% 0.4% Other Expenses 14.1 % Net Income Ambrose Department Stores, Inc. Income Statement Compared with Industry Average Year Ended December 31, 2024 Industry Ambrose Average Net Sales Revenue $ 781,000 100.0% Cost of Goods Sold 527,175 65.8 Gross Profit 253,825 34.2 163,229 19.7 Operating Expenses Operating Income 90,596 14.5 7,029 0.4 Other Expenses $ 83,567 14.1% Net Income Ambrose Department Stores, Inc. Balance Sheet Compared with Industry Average December 31, 2024 Industry Ambrose Average Current Assets $ 317,720 70.9% Property, Plant, and Equipment, Net 120,320 23.6 Intangible Assets, Net 7,050 0.8 24,910 4.7 Other Assets 470,000 100.0 % Total Assets Current Liabilities $ 217,140 48.1% Long-term Liabilities 107,160 16.6 Total Liabilities 324,300 64.7