Unlimited Student Da... pter 03 Homework (Application) Vertical analysis My Home CengageNOWv2 | Onl... Excel Online Student... CengageNOW eBook Show Me How Office 365 Two income statements for Cornea Company follow: Cornea Company Income Statements For the Years Ended December 31 Fees earned Expenses 2019 20Y8 $1,636,000 $1,300,000 (886,800) (742,000) Net income $749,200 $558,000 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answer the questions below. X Open spreadsheet Prepare a vertical analysis of Cornea Company's income statements. Round your answers to one decimal place. Cornea Company Income Statements For the Years Ended December 31 2019 2018 Amount Percent Amount Percent Fees earned $ 1,636,000 100 % $ 1,300,000 100 % Expenses (886,800) 50 X % (742,000) -50 X % Net income $749,200 47 X % $ 558,000 45 X % The vertical analysis indicates a favorable trend