Weber Inc.'s income statement and balance sheet are given below. a) Express this information as vertical trend percents. Please make sure your final answer(s) are in percentage form and are accurate to 2 decimal places. (For example: 12.34%) Weber Inc. Income Statement Vertical Trend Percentages (%) 2016 2015 2014 2016 2015 2014 Sales $1,643,000 $1,381,000 $1, 156,000 Cost of goods sold 1,300,000 1,100,000 915,000 Gross profit from sales 343,000 281,000 241,000 Operating expenses. 257,000 241,000 211,000 Income before tax 86,000 40,000 30,000 Income taxes expense 25,000 11,000 9,000 Net income $61,000 $29,000 $21,000 Weber Inc. Balance Sheet Vertical Trend Percentages (%) 2016 2015 2014 2016 2015 2014 Cash $286,000 $218,000 $192,000 Accounts receivable, net 69,000 61,000 58,000 Prepaid expenses 73,000 67,000 56,000 Merchandise inventory 821,000 669,000 594,000 Plant assets, net 451,000 391,000 322,000 Total assets. $1,700,000 $1,406,000 $1,222,000 Accounts payable. $730,000 $597,000 $515,000 Long-term notes payable. 398,000 336,000 305,000 118,000 103,000 95,000 Share capital (100,000 issued) 307,000 Retained earnings 454,000 370,000 Total liabilities and equity $1,700,000 $1,406,000 $1,222,000 b) Assuming all other things are constant, indicate whether the vertical trend between net income and operating expenses is favourable or unfavourable. The vertical trend is (select one) . (select one) favourable unfavourable SUBMIT AND MARK Official Time: 12:40:04 29