Question: Question 2 (33 marks) D (18 marks) A comparative income statement is given below for Emerald Corporation: EMERALD CORPORATION Comparative Income Statement For Years Ended

Question 2 (33 marks) D (18 marks) A comparative income statement is given below for Emerald Corporation: EMERALD CORPORATION Comparative Income Statement For Years Ended December 31, 2020 and 2019 2020 2019 Sales AED 720,000 AED 535,000 Cost of goods sold 475,200 280.340 Gross profit 244.800 254,660 Operating expenses 151.200 103.790 Net income AED 93.600 AED 150,870 Required: 1. Perform common-size (vertical) analysis for each year's income statement. Carry computations to one decimal place. 2. Assess whether this company's situation is favorable or unfavorable. Explain

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