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 common-size income statement and balance sheet for Specialty. The first column of each statement should present Specialty's common-size statement, and the second column, the industry averages. Begin by preparing the common-size income statement for Specialty, (Round your answers to one decimal place, XX%) Specialty Department Stores, Inc. Common-Size Income Statement Year Ended December 31, 2024 Specialty Industry Average Net Sales Revenue 100.0 % Cont of Goods Sold Gross Profit 34.2% 19.7 Operating Expenses % Operating Income Other Expenses % 65.8 % 96 14.5 % 0.4 % 14.1 Net Income % 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 common-size income statement and balance sheet for Specialty. The first column of each statement should present Specialty's common-size statement, and the second column, the industry averages. Begin by preparing the common-size income statement for Specialty, (Round your answers to one decimal place, XX%) Specialty Department Stores, Inc. Common-Size Income Statement Year Ended December 31, 2024 Specialty Industry Average Net Sales Revenue 100.0 % Cont of Goods Sold Gross Profit 34.2% 19.7 Operating Expenses % Operating Income Other Expenses % 65.8 % 96 14.5 % 0.4 % 14.1 Net Income %