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.

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.)

ou to i Data Table bald und % Ambrose Department Stores, Inc. Income Statement Compared with Industry Average Year Ended December 31, 2024 Industry Average Ambrose Net Sales Revenue $ 100.0 % 784,000 529,984 Cost of Goods Sold 65.8 Gross Profit 34.2 254,016 159,936 19.7 Operating Expenses Operating Income 94,080 14.5 Other Expenses 5,488 0.4 $ Net Income 88,592 14.1 % Print Done Clear All Ambrose Department Stores, Inc. Balance Sheet Compared with Industry Average December 31, 2024 ( re Industry Average Ambrose Current Assets $ 325,920 70.9 % 123,840 23.6 Property, Plant, and Equipment, Net Intangible Assets, Tuet 5,760 0.8 24,480 4.7 Other Assets $ 480,000 100.0 % Total Assets Current Liabilities $ 224,640 48.1 % 108,480 16.6 Long-term Liabilities Total Liabilities 333,120 64.7 HAR ARA 252 December 31, 2024 Industry Average t. Ambrose Current Assets $ 325,920 70.9 % 123,840 23.6 Property, Plant, and Equipment, Net Intangible Assets, Net 5,760 0.8 4.7 Other Assets 24,480 $ $ 480,000 100.0 % Total Assets Current Liabilities $ 48.1 % 224,640 108,480 16.6 Long-term Liabilities Total Liabilities 64.7 333,120 146,880 35.3 Stockholders' Equity $ 480,000 100.0 % Total Liabilities and Stockholders' Equity Begin by preparing a vertical analysis for Ambrose for its income statement. 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 % 254,016 159,936 % Operating Expenses Operating Income 94,080 % Other Expenses 5,488 % $ Net Income 88,592 %