(Solved): Prepare a horizontal analysis of both the balance sheet and income statement for Year 4 and Year 3. ...

Prepare a horizontal analysis of both the balance sheet and income statement for Year 4 and Year 3.

Required Prepare a horizontal analysis of both the balance sheet and Income statement for Year 4 and Year 3. Complete this question by entering your answers in the tabs below. Balance Sheets Income Statements Prepare a horizontal analysis of the income statement for Year 4 and Year 3. (Negative answers should be indicated by a minus sign. Round your answers to 1 decimal place. (i.e., .234 should be entered as 23.4).) SOLOMON COMPANY Horizontal Analysis of Income Statements Year 4 Year 3 % Change Revenues Sales (net) % $ 231,800 9,200 241,000 118,900 54,300 7,300 21,300 201,800 Other revenues Total revenues Cost of goods sold Selling, general, and administrative expenses Interest expense Income tax expense Total expenses Expenses Net income (loss) < Balance Sheets $ 211,600 6,900 218,500 102,200 48,700 6,500 20,300 177,700 40,800 Income Statements > $ 39,200 $ %6 Prepare a horizontal analysis of both the balance sheet and Income statement for Year 4 and Year 3. Complete this question by entering your answers in the tabs below. Balance Sheets Income Statements Prepare a horizontal analysis of the balance sheet for Year 4 and Year 3. (Negative answers should be indicated by a minus sign. Round your answers to 1 decimal place. (i.e., .234 should be entered as 23.4).) SOLOMON COMPANY Horizontal Analysis of Balance Sheets Year 4 Year 3 % Change Assets Current assets % Cash Marketable securities Accounts receivable (net) Inventories Prepaid items Total current assets Investments Plant (net) Land Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities Notes payable Announts navahle $ $ $ 17,000 21,900 54,500 136,800 26,400 256,600 28,100 270,700 29,400 584,800 $ 15,600 $ 113 000 $ 13,900 7,700 47,900 144,300 10,800 224,600 20,900 256,400 24,900 526,800 4,100 99 100 Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities Notes payable Accounts payable Salaries payable Total current liabilities Noncurrent liabilities Bonds payable Other Total noncurrent liabilities Total liabilities Stockholders' equity Preferred stock (par value $10, 4% cumulative, nonparticipating: 7,100 shares authorized and issued) Common stock (no par; 50,000 shares authorized; 10,000 shares issued) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity < Balance Sheets $ $ $ 584,800 $ 15,600 $ 113,000 19,800 148,400 99,100 30,900 130,000 278,400 71,000 71,000 164,400 306,400 584,800 $ 526,800 4,100 99,100 14,400 117,600 99,100 25,700 124,800 242,400 71,000 71,000 142,400 284,400 526,800 Income Statements > %6