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Vertical analysis

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

AT&T Verizon
Revenues $132,447 $127,079
Cost of services (expense) 60,611 49,931
Selling and marketing expense 39,697 41,016
Depreciation and other expenses 20,393 16,533
Operating income $ 11,746 $ 19,599
Required:

Question Content Area
a. Prepare a vertical analysis of the income statement for AT&T. Round to one decimal place.

AT&T
Income Statement

Amount Percent
Revenues $fill in the blank 42f583fcffe2ffb_1
132,447
fill in the blank 42f583fcffe2ffb_2
100
%
Cost of services (expense) fill in the blank 42f583fcffe2ffb_3
60,611
fill in the blank 42f583fcffe2ffb_4
%
Selling and marketing expense fill in the blank 42f583fcffe2ffb_5
39,697
fill in the blank 42f583fcffe2ffb_6
%
Depreciation and other expenses fill in the blank 42f583fcffe2ffb_7
20,393
fill in the blank 42f583fcffe2ffb_8
%
Operating income $fill in the blank 42f583fcffe2ffb_9
11,746
fill in the blank 42f583fcffe2ffb_10
%
Question Content Area
b. Prepare a vertical analysis of the income statement for Verizon. Round to one decimal place.

Verizon
Income Statement

blank Amount Percent
Revenues $fill in the blank 9f21aef38fdffbf_1
fill in the blank 9f21aef38fdffbf_2
%
Cost of services (expense) fill in the blank 9f21aef38fdffbf_3
fill in the blank 9f21aef38fdffbf_4
%
Selling and marketing expense fill in the blank 9f21aef38fdffbf_5
fill in the blank 9f21aef38fdffbf_6
%
Depreciation and other expenses fill in the blank 9f21aef38fdffbf_7
fill in the blank 9f21aef38fdffbf_8
%
Operating income $fill in the blank 9f21aef38fdffbf_9
fill in the blank 9f21aef38fdffbf_10
%