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. B (Click the icon to view the income statement.) E (Click the icon to view the balance sheet.) Read the requirements Data table Data table ht and balance shed he percent of total Rim Department Stores, Inc. Income Statement Compared with Industry Average Year Ended December 31, 2018 Rim Department Stores, Inc. Balance Sheet Compared with Industry Average December 31, 2018 Industry Rim Average Industry Average $ 305,550 70.9% Rim 23.6 Net Sales Revenue S 784,000 529,984 100.0 % 65.8 Current Assets Property, Plant, and Equipment, Net Intangible Assets, Net Other Assets 115,200 6,300 0.8 4.7 22,950 Cost of Goods Sold Gross Profit 254,016 164,640 34.2 19.7 Total Assets 450,000 100.0 % Operating Expenses Operating Income 14.5 89,376 5,488 Current Liabilities $ 0.4 Other Expenses 209,700 100,800 48.1 % 16.6 S 83,888 14.1 % Long-term Liabilities Total Liabilities Net Income ptal amounts to one 64.7 310,500 139.500 35.3 Stockholders' Equity 450,000 100.0 % Total Liabilities and Stockholders' Equity Print Done Income Statement Year Ended December 31, 2018 Amount Percent of Total Net Sales Revenue $ % 784,000 529,984 Cost of Goods Sold % Gross Profit % 254,016 164,640 Operating Expenses % Operating Income % 89,376 5,488 Other Expenses % 83,888 Net Income % Prepare a vertical analysis for Rim for its balance sheet. (Round the percent of total amounts to one decimal place, X.X%.) Rim Department Stores, Inc. Balance Sheet December 31, 2018 Amount Percent of Total % Current Assets Property, Plant, and Equipment, Net 305,550 115,200 % Amount Percent of Total Current Assets $ % 305,550 115,200 % Property, Plant, and Equipment, Net Intangible Assets, Net % 6,300 22,950 Other Assets % $ 450,000 Total Assets % Current Liabilities $ % 209,700 100,800 Long-term Liabilities % Total Liabilities % 310,500 139,500 Stockholders' Equity % 450,000 Total Liabilities and Stockholders' Equity % Requirement 2. Compare the company's profit performance and financial position with the average for the industry. Rim's gross profit percentage and profit margin ratio are both the industry average, which indicates a(n) profit performance as compared with the industry. than the industry, which would generally indicate a financial The company showed a slightly investment in fixed and intangible assets than the industry average. The company's percentage of debt to total assets is position than the average for the industry