1. Use vertical analysis to compare profitability. anwers must be in excel formulas

Transcribed image text: Required: 1. Use appropriate Excel formulas to perform vertical analysis and complete the "Percent" columns for both product lines above. Express each amount as a percentage of net sales. 22 Note: You should use absolute references in the divisors of all formulas. 23 2. Use the Excel IF function and the completed vertical analysis above to answer each of the questions below: Which product line has the highest gross profit \%? Which product line has the highest net income \%