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The Roost 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. (Click the icon to view the income statement.) (Click the icon to view the balance sheet.) 0 Requirements 1. Prepare a vertical analysis for Roost for both its income statement and balance sheet. 2. Compare the company's profit performance and financial position with the average for the industry. Roost Department Stores, Inc. Income Statement Compared with Industry Average Year Ended December 31, 2018 Industry Roost Average 100.0 % Net Sales Revenue Cost of Goods Sold Gross Profit 784,000 526,848 65.8 257,152 163,072 34.2 Operating Expenses Operating Income Other Expenses 94,080 3,920 90,160 0.4 14.1 % Net Income Roost Department Stores, Inc. Balance Sheet Compared with Industry Average December 31, 2018 Industry Roost Average 297,440 Current Assets Property, Plant, and Equipment, Net Intangible Assets, Net 70.9% 23.6 113,520 0.8 6,160 22,880 Other Assets - 4.7 $ 440,000 100.0 % Total Assets Current Liabilities $ 202,400 99,440 48.1 % 16.6 Long-term Liabilities Total Liabilities 301,840 138,160 64.7 35.3 Stockholders' Equity 440 000 100 %