The following condensed information is available for Canadian Pacific Railway Limited, Canada's oldest railway:

Instructions
(a) Using vertical analysis, calculate the percentage of the base amount for the statement of financial position and income statement for each year.
(b) Identify the key components in Canadian Pacific's statement of financial position and income statement that are primarily responsible for the change in the company's financial position and performance over the three-year period. Include in your answer a specific comment on the impact the company's discontinued operations had on your analysis.

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CANADIAN PACIFIC RAILWAY LIMITED Statement of Financial Position December 31 (in millions) 2015 20142013 Assets Cash Accounts receivable Supplies and other Current assets Non-current assets Total assets $ 650 $226 $ 887 645 702580 562 1,5371,2212,029 18,100 15,329 15,031 $19,637 $16,550 $17,060 242 293 ia Liabilities Current liabilities Non-current liabilities Total liabilities Shareholders' equity Total liabilities and shareholders' equity er $ 1,447 $ 1,411 1,378 13,394 9,529 8,585 14,841 10,9409,963 4.796 5,6107,097 $19,637 $16,550 $17,060 CANADIAN PACIFIC RAILWAY LIMITED Statement of Comprehensive Income Year Ended December 3:1 (in millions) 201520142013 $6,712 $6,620 $6,133 4.24_4.281_4.713 2,688 2,339 1,420 394 282 278 Revenues Operating expenses ncome from operations Interest expense Other expenses Income before income tax Income tax expense Net income Other comprehensive income (loss) _742 _(716) _1,265 Comprehensive income 1,959 2,038 1,125 1,352 1,476 875 $2,094 $ 760$2,140