The KJein 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 retaillars. (Cick the icon to view the income statement.) (Cick the icon to view the balance sheet) Read the Requirement 1. Prepare a common-size income statement and balance sheet for Koin. The first column of each statement should present Klein's common-size statement. and the second column, the industry averages. Begin by preparing the common-size income statement for Klein. (Round your answers to one decimal place. X%%.) Data table Klein Department Stores, Inc. Income Statement Compared with Industry Average Year Ended December 31. 2018 Data table Requirements 1. Prepare a common-size income statement and balance sheet for Klein. The first column of each statement should present Klein's common-size statement, and the second column, the industry averages. 2. For the profitability analysis, compute Klein's (a) gross profit percentage and (b) profit margin ratio. Compare these figures with the industry averages. Is Klein's profit performance better or worse than the industry average? 3. For the analysis of financial position, compute Klein's (a) current ratio and (b) debt to equity ratio. Compare these ratios with the industry averages. Assume the current ratio industry average is 1.47, and the debt to equity industry average is 1.83. Is Klein's financial position better or worse than the industry averages