HORIZONTAL ANALYSIS OF COMPARATIVE FINANCIAL STATEMENTS Amounts from the comparative income statement and balance sheet of Miller Electronics Corporation for the last two years are as follows:

REQUIRED
Prepare a horizontal analysis. Add columns to show the amount of increase (decrease) and the percentage change. Round percentages to one decimalplace.

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Miller Electronics Corporation Comparative Income Statement For Years Ended December 31, 20-2 and 20-1 20-2 $650,220 395,410 $254,810 $ 63,518 65,992 $129,510 $125,300 20-1 $420,600 Net sales (on account) Cost of goods sold Gross profit Administrative expenses Selling expenses Total operating expenses Operating income Interest expense Income before income taxes 258,668 $161,932 $ 42,288 43,936 $ 86,224 $ 75,708 1,204 $ 74,504 13,630 $ 60,874 1,282 $124,018 31,005 $ 93,013 Income tax expense Net income Miller Electronics Corporation Comparative Balance Sheet December 31, 20-2 and 20-1 20-1 20-2 Assets Current assets: Cash Receivables (net) $ 42,900 73,642 92,060 3,788 $212,390 $ 22,006 47,510 50,396 1,158 $121,070 Merchandise inventory Supplies and prepayments Total current assets Property, plant, and equipment: Office equipment (net) Factory equipment (net) Total property, plant, and equipment Total assets $ 12,150 105,360 $ 8,490 71,190 $ 79,680 $200,750 $117,510 $329,900 Liabilities Current liabilities: $ 10,000 43,524 6,250 $ 59,774 $ 6,000 30,242 5,400 41,642 Notes payable Accounts payable Accrued and withheld payroll taxes Total current liabilities Stockholders' Equity Common stock ($10 par) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 84,000 75,108 $159,108 $200,750 $100,000 170,126 $270,126 $329,900