The McConnell 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 (Click the icon to view the income statement.) Read the requirements (Click the icon to view the balance sheet.) Requirement 1. Prepare a vertical analysis for McConnell for both its income statement and balance sheet. Begin by preparing a vertical analysis for McConnell for its income statement. (Round the percent of total amounts to one decimal place, XX, and do not enter the %. For example, enter 10.1% as 10.1.) McConnell Department Stores, Inc. Income Statement Year Ended December 31, 2024 Amount Percent of Total Net Sales Revenue. $ 782,000 % Cost of Goods Sold 529,414 % Gross Profit 252.586 % 161,874 Operating Expenses % Operating Income 00,712 7,820 Other Expenses $ 82.892 Net Income Prepare a vertical analysis for McConnell for its balance sheet. (Round the percent of total amounts to one decimal place, XX and do not enter the %. For example, enter 10.1% as 10.1.3 McConnell Department Stores, Inc. Balance Sheet December 31, 2024 Amount Percent of Total The McConnell 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. This CEO has given you the company's income statement and balance sheet as well as the industry average data for retailers (Click the icon to view the income statement) (Click the icon to view the balance sheet.) Read the requirements Balance Sheet December 31, 2024 Amount Percent of Total Current Assets 283.080 Property, Plant, and Equipment, Net 107,520 Intangible Assets, Net 7,560 21,840 % % Other Assets 420,000 Total Assets Current Liabilities $ 196,560 Long-term Liabilities 94,920 Total Liabilities 291,480 128.520 Stockholders' Equity $ 420,000 Total Liabilities and Stockholders' Equity Requirement 2. Compare the company's profit performance and financial position with the average for the industry McConnell's gross profit percentage and profit margin ratio are both The company showed a slightly the industry average, which indicates a(n) profit performance as compared with the industry than the industry, which investment in fixed and intangible assets than the industry average. The company's percentage of debt to total assets is than the warane for the industry