Sultan Vertical analysis Using the income statement information for Omega Corporation that follows, prepare a vertical analysis of the income statement for Omega Corporation. If required, round percentages to one decimal place. Percentage sign will appear automatically Omega Corporation Income Statement Amount Percentage 5880.000.00 Cost of goods sold 457600.00 Gross profit 5422.400.00 For 2012, Macklin Inc. reported a significant increase in net income. At the end of the year, John Mayer, the president, is presented with the follo condensed comparative income statement: Macklin Inc. Comparative Income Statement For the Years Ended December 31, 2012 and 2041 2012 2011 Sales $700,000 $910,000 441,000 350,000 Cost of goods sold Gross profit $469,000 Selling expenses Administrative expenses $350,000 $115,000 85,000 $200,000 $150,000 $139,150 99,450 $238,600 $230,400 65,000 Total operating expenses Income from operations Other revenue Income before income tax $295,400 Income tax expense 65,000 9 $23 Net Income . Required: as the base year. Round to one dec 1. Prepare a comparative Income statement with horizontal analysis for place. Use the minus sign to indicate a decrease in the "Difference" columns