Requirement 1. Prepare a vertical analysis for Ambrose for both its income statement and balance.

begin by preparing a vertical analysis for Ambrose for its income statement.

The Ambrose 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. Begin by preparing a vertical analysis for Ambrose for its income statement. (Round the percent of total amounts to one decimal place, X.X, and do not enter the %. For example, enter 10.1% as 10.1.) Ambrose Department Stores, Inc. Income Statement Compared with Industry Average Year Ended December 31, 2024 Industry Average Ambrose Net Sales Revenue $ 784,000 100.0 % 529,984 65.8 Cost of Goods Sold Gross Profit 254,016 34.2 159,936 19.7 Operating Expenses Operating Income 14.5 94,080 5,488 Other Expenses 0.4 8 $ 88,592 14.1 % Net Income % ew th Ambrose Department Stores, Inc. Balance Sheet Compared with Industry Average December 31, 2024 nt of Industry Average Ambrose Current Assets 325,920 70.9 % 123,840 23.6 Property, Plant, and Equipment, Net Intangible Assets, Net 0.8 5,760 24,480 Other Assets 4.7 $ 480,000 100.0 % Total Assets Current Liabilities Long-term Liabilities Total Liabilities 224,640 108,480 48.1 % 16.6 64.7 333,120 146.880 35.3 December 31, 2024 Industry Average Ambrose Current Assets $ 325,920 70.9 % Property, Plant, and Equipment, Net 123,840 23.6 Intangible Assets, Net 0.8 5,760 24,480 4.7 Other Assets $ 480,000 100.0 % Total Assets Current Liabilities $ 48.1 % 224,640 108,480 Long-term Liabilities 16.6 Total Liabilities 64.7 333,120 146,880 Stockholders' Equity 35.3 Total Liabilities and Stockholders' Equity 480,000 100.0 % Amount Percent of Total Current Assets $ 325,920 % Property, Plant, and Equipment, Net Intangible Assets, Net 123,840 % % Other Assets 5,760 24,480 % Total Assets $ 480,000 % Current Liabilities $ 224,640 108,480 Long-term Liabilities Total Liabilities % % 333,120 146,880 Stockholders' Equity Total Liabilities and Stockholders' Equity % % 480,000 % Enter any number in the