Prepare a vertical analysis of the income statement shown below. Variline, Inc. Income Statement For the...

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Prepare a vertical analysis of the income statement shown below. Variline, Inc. Income Statement For the Year Ended December 31, 2025 Net Sales Cost of Goods Sold Gross Profit Operating Expenses: Selling Expenses Administrative Expenses Total Operating Expenses Operating Income Other Income and (Expenses): Interest Expense Total Other Income and (Expenses) Income Before Income Taxes Income Tax Expense Net Income 2025 Amount $ 7,000 3,600 3,400 $ 900 700 1,600 1,800 (500) (500) 1,300 210 1,090 Percent of Total % % % % % % % % % % % % Income Statement Variline, Inc. Income Statement For the Year Ended December 31, 2025 $ Net Sales Cost of Goods Sold Gross Profit Operating Expenses: Selling Expenses Administrative Expenses Total Operating Expenses Operating Income Other Income and (Expenses): Interest Expense Total Other Income and (Expenses) Income Before Income Taxes Income Tax Expense Net Income 7,000 3,600 3,400 900 700 1,600 1,800 (500) (500) 1,300 210 1,090 Prepare a vertical analysis of the income statement shown below. Variline, Inc. Income Statement For the Year Ended December 31, 2025 Net Sales Cost of Goods Sold Gross Profit Operating Expenses: Selling Expenses Administrative Expenses Total Operating Expenses Operating Income Other Income and (Expenses): Interest Expense Total Other Income and (Expenses) Income Before Income Taxes Income Tax Expense Net Income 2025 Amount $ 7,000 3,600 3,400 $ 900 700 1,600 1,800 (500) (500) 1,300 210 1,090 Percent of Total % % % % % % % % % % % % Income Statement Variline, Inc. Income Statement For the Year Ended December 31, 2025 $ Net Sales Cost of Goods Sold Gross Profit Operating Expenses: Selling Expenses Administrative Expenses Total Operating Expenses Operating Income Other Income and (Expenses): Interest Expense Total Other Income and (Expenses) Income Before Income Taxes Income Tax Expense Net Income 7,000 3,600 3,400 900 700 1,600 1,800 (500) (500) 1,300 210 1,090

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