Q1. (20 marks) Perform Vertical analysis on the given data. Comment on the performance of the company. North Carolina Corporation Comparative Income Statement For the Years Ended December 31, 2018 and 2017 2012 2018 $1,400,000 $1,200,000 Net sales Expenses Cost of goods sold Selling and general expenses Interest expense Income tax expense I Total expenses Net income $900,000 250,000 55,000 64.000 $1.269.000 $131.000 $780,000 220,000 52,000 48.000 $1.100.000 $100,000