The following were the comparative Balance Sheet&come time to Sushi Hotel Sunshine Hotel Income Statement Compared with Industry Average Year Ended December 31, 2019 In A 100.0% 65.1% 342 19.1% P 1.17.500 745.500 426.000 244 500 101.500 7500 174,000 Net Sales Cost of Goods Sold Grass Pro Operating Expenses Operating income Other Expenses Net Income 0.4% 14.1% Sunshine Hotel Balance Sheet Compared with Industry Average Year Ended December 31, 2019 Current Assets Fixed Assets, het Intangible Assets, net Other Assets Total Sunshine 525,000 111.000 6.000 33,000 675.000 Industry Average 70.9% 23,6% 0.0% 4.7% 100.0% P P Current Liabilities Long-term Liabilities Stockholders' Equity Total 310,500 93.000 271.500 675,000 48.13 16.6% 3534 100.0% Required: 1. Prepare a two-column common-site I/S and SFP. The first column of each statement should present Sunshine's common se statement and the second column should show the industry averages 2. For the profitability analysis, compute Sunshine's (a) ratio of gross profitto net sales, (b) ratio of operating income to net sales, and (c) ratio of net income to sales. Compare these figures with the industry averages. Is Sunshine's profit performance better or worse than the industry average? 3. For the financial position analysis, compute Sunshine's (a) ratio of current assets to total assets and (b) ratio of stockholders' equity to total assets. Compare these ratios with the industry averages. Is Sunshine's financial position better or worse than the industry average? The following were the comparative Balance Sheet&come time to Sushi Hotel Sunshine Hotel Income Statement Compared with Industry Average Year Ended December 31, 2019 In A 100.0% 65.1% 342 19.1% P 1.17.500 745.500 426.000 244 500 101.500 7500 174,000 Net Sales Cost of Goods Sold Grass Pro Operating Expenses Operating income Other Expenses Net Income 0.4% 14.1% Sunshine Hotel Balance Sheet Compared with Industry Average Year Ended December 31, 2019 Current Assets Fixed Assets, het Intangible Assets, net Other Assets Total Sunshine 525,000 111.000 6.000 33,000 675.000 Industry Average 70.9% 23,6% 0.0% 4.7% 100.0% P P Current Liabilities Long-term Liabilities Stockholders' Equity Total 310,500 93.000 271.500 675,000 48.13 16.6% 3534 100.0% Required: 1. Prepare a two-column common-site I/S and SFP. The first column of each statement should present Sunshine's common se statement and the second column should show the industry averages 2. For the profitability analysis, compute Sunshine's (a) ratio of gross profitto net sales, (b) ratio of operating income to net sales, and (c) ratio of net income to sales. Compare these figures with the industry averages. Is Sunshine's profit performance better or worse than the industry average? 3. For the financial position analysis, compute Sunshine's (a) ratio of current assets to total assets and (b) ratio of stockholders' equity to total assets. Compare these ratios with the industry averages. Is Sunshine's financial position better or worse than the industry average