please help me solve this and explain step by step filling the yellow highlighted area. thankyou!

Lake Athletics sells two distinct product lines: Apparel and Equipment. The income statement for each product line appears below. LAKE ATHLETICS Income Statement For the Year Ended December 31, 20X1 Apparel Equipment Amount Percent Amount Percent Net sales $3,150,000 $5,550,000 Cost of goods sold 1,400,000 2,720,000 Gross profit 1,750,000 2,830,000 Operating expenses 800,000 875,000 Operating income 950,000 1,955,000 Other income 20,000 10,000 Income before tax 970,000 1,965,000 Income tax expense 241,250 491,000 Net income $728,750 $1,474,750 Required: 1. Use appropriate Excel formulas to perform vertical analysis and complete the "Percent" columns for both product lines above. Express each amount as a percentage of net sales. Note: You should use absolute references in the divisors of all formulas. 2. Use the Excel IF function and the completed vertical analysis above to answer each of the questions below: Which product line has the highest gross profit %? Which product line has the highest net income %