Top managers of Riddell Windows Inc, a specialty fabricating company, have asked for your help in comparing the company's profit performance and financial position with the average for the window making industry The accountant has given you the company's income statement and balance sheet, and also the average data for their industry (amounts in milions) (Click the icon to view the income statement.) (Click the icon to view the balance sheet.) Required Requirement 1. Prepare a two-column common-size income statement and a two column common-size balance sheet for Riddell Windows Inc The first column of each statement should present Riddell Windows Inc 's commonsize statement, and the second column should show the industry averages Begin by completing the common-sze income statement for Riddell Windows inc (Round all amounts to one decimal place. In order to avoid rounding issues, complete each line individually. The total of the column may not add up to 100.0.) Riddell Windows Inc. Income Statement For the Year Ended December 31, 2020 Cost of goods sold Gross margin Operating expenses Operating income Other expenses Net income \%) e data for balance s Required 1. Prepare a two-column common-size income statement and a two-column common-size balance sheet for Riddell Windows Inc. The first column of each statement should present Riddell Windows Inc 's common-size statement, and the second column should show the industry averages 2. For the profitability analysis, compare Riddell Windows Inc 's (a) ratio of gross margin to net sales, (b) ratio of operating income (loss) to net sales, and (c) ratio of net income (loss) to net sales with the industry averages is Riddell Windows Inc 's profit performance better or worse than the average for the industry? 3. For the analysis of financial position, compare Riddell Windows Inc 's (a) ratio of current assets to total assets and (b) rato of shareholders' equity to total assets with the industry averages is Riddell Windows Inc 's financial position better or worse than the average for the industry? Requirement 1. Prepare a two-column common-size income statement and a two-column common-size balance sheet for Riddell Windows Inc The first column of each statement should present Riddell Windows Inc's commonsize statement, and the second column should show the industry averages Begin by completing the common-size income statement for Riddell Windows Inc (Round all amounts to one decimal place. In order to avoid rounding issues, complete each line individually. The total of the column may not add up to 100.0.) may not add up to 100.0.) Ask my instructor