HORIZONTAL ANALYSIS OF COMPARATIVE FINANCIAL STATEMENTS Amounts from the comparative income statement and balance sheet of Johnson Stores, Inc., for the last two years are as follows:

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

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Johnson Stores, Inc. Comparative Income Statement For Years Ended December 31, 20-2 and 20-1 20-1 $305,145 20-2 $467,865 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 256,955 $210,910 $ 43,876 44,994 $ 8,870 $122,040 149,005 $156,140 $ 30,617 31,293 $ 61,910 $ 94,230 916 $121,124 30,280 $ 90,844 903 $ 93,327 19,980 $ 73,347 Income tax expense Net income Johnson Stores, Inc. Comparative Balance Sheet December 31, 20-2 and 20-1 20-2 20-1 Assets Current assets: $ 30,275 42,441 49,460 7,119 $129,295 $ 15,604 33,565 34,636 6,403 $ 90,208 Cash Receivables (net) 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 $ 9,025 72,090 $ 81,115 $210,410 $ 6,062 52,930 $ 58,992 $149,200 Liabilities Current liabilities: $ 4,000 30,233 6,250 $ 40,483 $ 8,000 14,821 7,600 $ 30,421 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 $ 75,000 94,927 $169,927 $210,410 $ 63,000 55,779 $118,779 $149,200