(Solved): 1. Use vertical analysis to compare profitability. 1 Lake Athlotics sells two distinct product line ...

1. Use vertical analysis to compare profitability. 1 Lake Athlotics sells two distinct product lines: Acparel and Equipmene. 2 The income statement for each product line appears below. Required: 1. Use appropriate Excel formulas to parform vertcal aralyeis and compicte the 'Porcent' columns for both product lines abow. Express each amount as a percontaze of net sales. 2. Use the Excel if function and the completed vertical anawnis abow to answer cach of the questions below. Recuired: 1. Use appropriate Excel formulas to perform vertical analyis and compliste the "Percent" columens for both product lines above. Express each amount as a percontage of net tales. Nate: Iou should use abtolute reforonces in the divater of alf farm iost 2. Use the Excel IF function and the completed verbicail analivils above to ancwer each of the questions below: Which product line has the highert goss pront is? Which product line has the highest net meome ly?