11 The comparative financial statements prepared at December 31, Year 2, for Goldfish Company showed the following summarized data: Year 2 Year 1 Statement of Earnings Sales revenue $324,420* $275,000 Cost of sales 272,590 230,000 Gross margin 51,830 45,000 01:43:10 Operating expenses and interest expense 35,110 31,600 16,720 5,130 13,400 3,900 eBook Earnings before income taxes Income tax expense Net earnings Statement of Financial Position Cash Accounts receivable (net) Inventory Property, plant, and equipment (net) Current liabilities (no interest) Non-current liabilities (10% interest) Common shares (6,000 shares) Retained earningst $ 11,590 $ 9,500 $ 4,480 $ 9,000 19,120 54,760 36,650 $115,010 $ 10,760 23,000 48,000 31,000 $111,000 $ 13,000 39,660 38,600 42,000 42,000 22,590 17,400 $115,010 $111,000 *One-third was credit sales. During Year 2, cash dividends amounting to $6,400 were declared and paid. Required: 1. Using the concept of horizontal analyis, complete the following columns for each item in the preceding comparative financial statements (Negative answers should be indicated by a minus sign. Round percentage answers to 2 decimal places (i.e., 0.1243 should be entered as 12.43).): Statement of earnings Sales revenue Increase (Decrease) Year 2 over Year 1 Percentage Amount Next 6