The Rim 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.) : (Click the icon to view the balance sheet.) Read the requirements Data table Requirement 1. Prepare a vertical analysis for Rim for both its income statement and balance sheet. Begin by preparing a vertical analysis for Rim for its income statement. (Round the percent of total amounts to one decimal place, XX%.) Rim Department Stores, Inc. Income Statement - X Data table Year Ended December 31, 2018 Amount Percent of Total Rim Department Stores, Inc. Balance Sheet Compared with Industry Average December 31, 2018 Industry Rim Average Net Sales Revenue $ 100.0 % 781,000 527,956 67.6 Cost of Goods Sold % Current Assets $ 323,040 70.9% Gross Profit 32.4 % 253,044 163,229 Rim Department Stores, Inc. Income Statement Compared with Industry Average Year Ended December 31, 2018 Industry Rim Average 120.960 23.6 Property, Plant, and Equipment, Net Intangible Assets, Net % Operating Expenses Operating Income 0.8 12,000 24,000 % 89,815 3.905 4.7 Other Assets Other Expenses % Net Sales Revenue $ $ 480,000 100.0 % 781,000 527,956 100.0 % 65.8 Total Assets $ 85,910 Net Income % Cost of Goods Sold Gross Profit 34.2 253,044 163,229 Current Liabilities $ 221,760 48.1 % 19.7 106,080 16.6 Operating Expenses Operating Income 89,815 3,905 14.5 0.4 Long-term Liabilities Total Liabilities 327,840 152,160 64.7 35.3 Other Expenses Stockholders' Equity $ 85,910 14.1% Net Income 480,000 100.0 % Total Liabilities and Stockholders' Equity Print Done Print Done 1 Heln me solve this Calculator Print Cloar all Check