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 retaile (Click the icon to view the income statement) (Click the loan to view the balance sheet) Read the requirements. 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. (Round the percent of total amounts to one decimal place, X.X, and do not enter the %. For example, enter 10.1% as 10.1.) Ambrose Department Stores, Inc. Income Statement Year Ended December 31, 2024 Amount Percent of Total Net Sales Revenue $ 777,000 Cost of Goods Sold 525,252 Gross Profit 251,748 160,062 Operating Expenses Operating Income 91,686 % 7,770 Other Expenses % 83,916 Net Income % Data table Data table Requirements 1. Prepare a vertical analysis for Ambrose for both its income statement and balance sheet 2. Compare the company's profit performance and financial position with the average for the industry Print Done Ambrose Department Stores, Inc. Balance Sheet Compared with Industry Average December 31, 2024 Ambrose Department Stores, Inc. Income Statement Compared with Industry Average Year Ended December 31, 2024 Ambrose Industry Average Current Assets S 323,040 70.9% Ambrose Industry Average Property, Plant, and Equipment, Net 123,040 236 Net Sales Revenue $ 777,000 100.0 % Intangible Assets, Net 9,120 0.8 525252 65.8 Other Assets 24,000 4.7 Cost of Goods Sold S 480,000 100.0 % Gross Profit 251.748 34.2 Total Assets 160,062 19.7 Operating Expenses Operating Income 91,686 14.5 Current Liabilities S 221,760 48.1% 7,770 0.4 Other Expenses Long-term Liabilities 105,600 16.6 $ 83,916 14.1% Total Liabilities 327,360 64.7 Net Income 152,640 353 Stockholders' Equity 480,000 100.0 % Print Done Total Liabilities and Stockholders' Equity Print Done