The Russell 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 - X Data Table Requirement 1. Prepare a vertical analysis for Russell for both its income statement and balance sheet. Begin by preparing a vertical analysis for Russell for its income statement. (Round the percent of total amounts to one decimal place, XX%) Data Table Russell Department Stores, Inc. Income Statement Year Ended December 31, 2018 Amount Percent of Total Russell Department Stores, Inc. Balance Sheet Compared with Industry Average December 31, 2018 Industry Russell Average Net Sales Revenue $ % 784,000 526,064 $ 304,200 70.9 % Cost of Goods Sold % Russell Department Stores, Inc. Income Statement Compared with Industry Average Year Ended December 31, 2018 Industry Russell Average Current Assets Property, Plant, and Equipment, Net Intangible Assets, Net 23.6 Gross Profit % 257,936 159,936 114.300 9,000 0.8 4.7 % Operating Expenses Operating Income 22,500 Other Assets % 98,000 4.704 Net Sales Revenue $ $ 450,000 100.0 % 784,000 526,064 100.0 % 65.8 Total Assets Other Expenses % Cost of Goods Sold $ 93,296 Net Income % Gross Profit 34.2 257,936 159,936 Current Liabilities $ 48.1 % 19.7 206,100 101,700 Operating Expenses Operating Income - X 98,000 Requirements Long-term Liabilities Total Liabilities 14.5 0.4 Other Expenses 4,704 307,800 142,200 64.7 35.3 Stockholders' Equity $ 93,296 Net Income 14.1 % 450,000 100.0 % Total Liabilities and Stockholders' Equity 1. Prepare a vertical analysis for Russell 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 Print Done Print Done Done