The following information is from Bluff Run Golf Courses. The company runs three courses and the July income statement for each course is as follows: BLUFF RUN GOLF COURSES Income Statement Month Ending July 31, 2018 Blue Course Black Course Gold Course Revenues Greens fees revenue Outings revenue Total revenue $62,500 ? $89,000 6,000 $95,000 $42.900 28,000 $70,900 $73,600 $14,200 $6,500 Expenses Landscaping Wages Repairs and maintenance Fuel Utilities Total expenses $7.800 43,900 5,600 ? 3,100 2,600 3.000 3,000 $78,900 32,600 4,400 1,970 1,700 $47.170 1,800 $62,200 Operating income $11,400 $16,100 A. Calculate the operating income percentage for each of the courses. Round your percentages to one decimal place. Course Blue Course Black Course Gold B 1. Perform a vertical analysis for each course. Round your percentages to one decimal place. Bluff Run Golf Courses Income Statement Month Ending July 31, 2018 Course Blue Course Black Course Gold v $62,500 $89,000 6,000 $95.000 $42,900 28,000 $73,600 $70,900 Revenues Greens fees revenue Outings revenue Total revenue Expenses Landscaping Wages Repairs and maintenance Fuel $7,800 $14,200 $6,500 32,600 43,900 5,600 4,400 3,100 2,600 3,000 3,000 1,970 1,800 Utilities 1,700 78900 $47170 Income Statement Month Ending July 31, 2018 Course Blue Course Black Course Gold $62,500 $89,000 6,000 $42,900 28,000 $70,900 $73,600 $95,000 Revenues Greens fees revenue Outings revenue Total revenue Expenses Landscaping Wages Repairs and maintenance Fuel $14,200 $6,500 32,600 4,400 $7,800 43,900 5,600 3,100 1,800 $62200 $11,400 2,600 3,000 3,000 $78900 $16,100 1,970 1,700 $47170 Utilities Total expenses Operating income Operating income % 2. Based on a vertical analysis of each course, which accounts would you want to investigate further? C. Which method of analysis (using a dollar value or percentage) is most relevant and/or useful? Why