The following income statement data for AT&T Inc. and Verizon Communications Inc. were taken from their recent annual reports (in millions):

a. Prepare a vertical analysis of the income statement for AT&T. Round to one decimal place.
b. Prepare a vertical analysis of the income statement for Verizon. Round to one decimal place.
c. Based on Requirements (a) and (b), how does AT&T compare to Verizon?

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AT&T Verizon $127,079 49,931 41,016 16,533 19,599 Revenues ………… $132,447 60,611 39,697 20,393 11,746 Selling and marketing expense