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 Rim Department Stores, Inc. balance sheet Income Statement Compared with Industry Average Year Ended December 31, 2024 ercent of total amounts to one decimal place, XX, and do not enter the % For example, enter 10 1% as 10.13 Industry Rim Average Net Sales Revenue $ 782.000 1000% Cost of Goods Sold 526,286 65.8 Gross Profit 255.714 34.2 159,528 10.7 Operating Expenses. Operating Income 96,186 145 7,038 04 Other Expenses 89,148 14.1 % Net Income (Click the icon to view the income statement) (Click the icon to view the Read the requirements Data table Rim Department Stores, Inc. Begin by preparing a vertical analysis for Rim for its income statement. (Round t Rim Department Stores, Inc. Income Statement Year Ended December 31, 2024 Balance Sheet Compared with Industry Average December 31, 2024 Rim Current Assets $ Industry Average 330,750 70.9% Amount Percent of Total Property, Plant, and Equipment, Net 124,460 23.6 Net Sales Revenue $ 782,000 % Intangible Assets, Net 11.760 0.8 Cost of Goods Sold 526,286 23,030 4.7 % Other Assets Gross Profit 255,714 % $ 490,000 100.0% Total Assets 159,528 Operating Expenses % Operating Income 96,186) % 7,038 Other Expenses % Current Liabilities Long-term Liabilities 89,148 Net Income. Prepare a vertical analysis for Rim for its balance sheet (Round the percent of t Total Liabilities 228,340 48.1% 111,720 16.6 340,060 64.7 149,940 35.3 Stockholders' Equity Print Done Read the requirements Balance Sheet Compared with Industry Average December 31, 2024 Industry Rim Average December 31, 2024 Current Assets $ 330,750 709% Amount Percent of Total Property, Plant, and Equipment, Net 124,460 236 Current Assets $ 330,750 % Intangible Assets, Net 11,760 08 Property, Plant, and Equipment, Net 124,460 % 23,030 47 Other Assets Intangible Assets, Net 11,760 % $ 490,000 100.0 % Other Assets 23,030 Total Assets % $ 490,000 Total Assets Current Liabilities $ 228,340 Long-term Liabilities 111,720 Total Liabilities 340,060 149,940 Stockholders' Equity $ 490,000 Total Liabilities and Stockholders' Equity Current Liabilities: Long-term Liabilities Total Liabilities % a je je de at Stockholders' Equity Total Liabilities and Stockholders' Equity 228,340 48.1% 111,720 166 340,060 647 149,940 35.3 490,000 100.0% Requirement 2. Compare the company's profit performance and financial position with the average for the industry Rom's gross profit percentage and profit margin ratio are both The company showed a slighey generally indicate a the industry average, which indicates a(n) investment in feed and intangible assets than the industry average The company's percentage of debt to total assets is financial position than the average for the industry profit performance as compared with the industry than the industry, which would Requirements 1. Prepare a vertical analysis for Rim for both its income statement and balance sheet. 2. Compare the company's profit performance and financial position with the average for the industry. Print Done - X