A condensed income statement for Simultech Corporation and a partially completed vertical analysis are presented below.

Required:
1. Complete the vertical analysis by computing each line item (a)-(f) as a percentage of sales revenues. Round to the nearest whole percentage.
2. Does Simultech's Cost of Goods Sold for the year ended January 31, 2013, as a percentage of revenues, represent better or worse performance as compared to that for the year ended January 31, 2012?
3. Do the percentages for (c) and (f) that you calculated in 1 indicate whether Simultech's net profit margin has changed over the two years?

SIMULTECH CORPORATION Income Statement (summarized) (in millions of U.S. dollars) For the Years Ended January 31, 2013January 31, 2012 $2,062 1,637 Sales Revenues Cost of Goods Sold Selling, General, and Administrative Expenses Other Operating Expenses Interest Expense Income before Income Tax Expense $2,200 1,721 346 12 26 95 100% 79 al 100% 16 53 17 nc ome Tax Expense Net Income c96 $ 62 f%