The Specialty 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 Specialty for both its income statement and balance sheet. Begin by preparing a vertical analysis for Specialty for its income statement. (Round the percent of total amounts to one decimal place, X.X, and do not enter the %. For example, enter 10.1% as 10.1.) Specialty Department Stores, Inc. Income Statement Year Ended December 31, 2024 Requirements 1. Prepare a vertical analysis for Specialty for both its income statement and balance sheet. 2. Compare the company's profit performance and financial position with the average for the industry. - X Done Amount Percent of Total Data table Net Sales Revenue $ 784,000 % Data table 529,984 Cost of Goods Sold Gross Profit % 254,016 % Specialty Department Stores, Inc. 159,936 Operating Expenses Operating Income % Income Statement Compared with Industry Average Year Ended December 31, 2024 94,080 % Specialty Department Stores, Inc. Balance Sheet Compared with Industry Average December 31, 2024 7,840 Other Expenses % Specialty Industry Average $ 86,240 Specialty Industry Average Net Income % Net Sales Revenue $ 784,000 100.0 % Current Assets $ 296,120 70.9 % Cost of Goods Sold 529,984 65.8 Property, Plant, and Equipment, Net 112,640 23.6 Gross Profit 254,016 34.2 Intangible Assets, Net 8,360 0.8 159,936 19.7 Operating Expenses 22,880 4.7 Other Assets Operating Income 94,080 14.5 $ 440,000 100.0 % Total Assets Other Expenses 7,840 0.4 $ 86,240 14.1% Net Income Print Done Help me solve this Demodocs example Get n - X Current Liabilities $ Long-term Liabilities 205,920 99,440 48.1% 16.6 Total Liabilities 305,360 64.7 134,640 35.3 Stockholders' Equity 440,000 100.0 % Clear all Check answer Total Liabilities and Stockholders' Equity