Vertical analysis Two income statements for Cornea Company follow: Cornea Company Income Statements For the Years Ended December 31 Fees earned Expenses 20Y9 20Y8 $1,666,000 $1,250,000 (832,600) $833,400 (827,000) $423,000 Net income This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. X Open spreadsheet a. 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 20Y9 Amount 20Y9 Percent 20Y8 Amount 20Y8 Percent Fees earned Expenses $1,666,000 (832,600) 100 % $1,250,000 100 % 50 % (827,000) % Net income $833,400 50 % $423,000 % b. The vertical analysis indicates a favorable trend.