X erti i Data Table to one deci ana rtm Rim Department Stores, Inc. me Income Statement Compared with Industry Average De Year Ended December 31, 2018 Industry Rim Average 780,000 100.0 % Net Sales Revenue 528.060 65.8 Cost of Goods Sold 251 940 Gross Profit 34.2 163 800 19.7 Operating Expenses 88 140 Operating Income 14.5 5,460 0.4 Other Expenses 82,680 14.1 % Net Income Print Done S X i Data Table Rim Department Stores, Inc. Balance Sheet Compared with Industry Average December 31, 2018 Industry Average Rim 323,040 70.9 % Current Assets 123 840 23 6 Property Plant, and Equipment, Net Intangible Assets, Net 7 680 08 4.7 25,440 Other Assets $ 480,000 100.0 % Total Assets Current Liabilities 223,680 48.1.% 106.080 16.6 Long-term Liabilities 329 760 Total Liabilities 64.7 150 240 35.3 Stockholders' Equity 480,000 100.0 % Total Liabilities and Stockholders Equity Print Done Question Help P15-24A (similar to) The Rim Department Stores, Inc. chief executive officer (CEO) has asked you to compare the company's profit performance and financial position with the averages for the industry. The CEO has given you the company's income statement and balance sheet as well as the industry average data for retailers. EE(Click the icon to view the income statement) Click the icon to view the balance sheet.) Read the requirements Requirement 1. Prepare a vertical analysis for Rim for both its income statement and balance sheet Begin by preparing a vertical analysis for Rim for its income statement. (Round the percent of total amounts to one decimal place, XX %. ) Rim Department Stores, Inc. Income Statement Year Ended December 31, 2018 Amount Percent of Total % S 780,000 Net Sales Revenue 528.060 Cost of Goods Sold % 251,940 Gross Profit 163,800 % Operating Expenses % 88,140 Operating Income 5,460 9% Other Expenses S 82,680 9% Net Income X Requirements 1. Prepare a vertical analysis for Rim for both its income statement and balance sheet Compare the company's profit performance and financial position with the average for the industry 2. Print Done