Use vertical analysis to compare profitability

Perform Vertical Analysis 1. Use vertical analysis to compare profitability. All answers must be entered as a formula Click OK to begin. Ok Perform Vertical Analysis 1. Use vertical analysis to compare profitability. Perform Vertical Analysis-Excel sign by HOME INSERT PAGE LAYOUT FORMULAS DATA REWEW IEW Caltri PasteI A.Nigment Number Conditional Format as Cel Cels Edting Formatting Table Styles Clipboard A1 | Lake Athletics sells two distinct product lines: Apparel and Equipment $3,150,000 9 Net sales 10 Cost of goods sold 11 Gross 12 -operating expenses 14 Other income 20,000 10,000 Income before tax 15 16 17 18 1s Required: 20 1. Use appropriate Excel formulas to perform vertical analysis and complete the "Percent" columns 21 for both product lines abowe. Express each amount as a percentage of net sales. 22 Note: You should use obsolute references in the divisors of oll formuios. 23 2. Use the Excel IF function and the completed vertical analysis above to answer each of the 24 questions below 25 which product line has the highest gross profit %? which product line has the highest net income %? 28 29 30 31 Sheetl+ Attempts) References Excel Simulation Difficulty: 3 Hard