The Roost 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. Requirement 1. Prepare a vertical analysis for Roost for both its income statement and balance sheet. Begin by preparing a vertical analysis for Roost for its income statement. (Round the percent of total amounts to one decimal place, X.X%.) Roost Department Stores, Inc. Income Statement Year Ended December 31, 2018 Amount Percent of Total Net Sales Revenue $ % 781,000 527,175 Cost of Goods Sold % Gross Profit % 253,825 162,448 % Operating Expenses Operating Income % 91,377 7,029 Other Expenses % $ 84,348 Net Income % Roost Department Stores, Inc. Income Statement Compared with Industry Average Year Ended December 31, 2018 Industry Roost Average Net Sales Revenue $ 100.0 % 781,000 527,175 65.8 Cost of Goods Sold Gross Profit 253,825 34.2 162,448 19.7 Operating Expenses Operating Income 14.5 91,377 7,029 0.4 Other Expenses $ 84,348 14.1 % Net Income Roost Department Stores, Inc. Balance Sheet Compared with Industry Average December 31, 2018 Industry Roost Average Current Assets $ 305,550 70.9 % 116,100 23.6 Property, Plant, and Equipment, Net Intangible Assets, Net 0.8 4,950 23,400 4.7 Other Assets $ 450,000 100.0 % Total Assets Current Liabilities $ 48.1 % 210,600 102,600 16.6 Long-term Liabilities Total Liabilities 64.7 313,200 136,800 35.3 Stockholders' Equity 450 on 100%