2020 Amount Peccent $ 40,000 (10,000 -257. 70,000 150.000 TL 30.000 10,000 337 70,000 (10,000) -1972 300.000 01 5510.000 (60,000 -12% 1. The financial statements of Lakers Company appear below: LAKERS COMPANY Comparative Balance Sheet December 31, Assets 2021 Cash $ 30,000 Short-term investments 20,000 Accounts receivable (net) 40,000 Inventory 60,000 Property, plant and equipment (net) 300.000 Total assets $450,000 Liabilities and stockholders' equity Accounts payable $ 60,000 Short-term notes payable 50,000 Bonds payable 80,000 Common stock 150,000 Retained earnings 110,000 Total liabilities and stockholders' equity $450.000 LAKERS COMPANY Income Statement For the Year Ended December 31, 2021 Net sales Cost of goods sold Gross profit Expenses Operating expenses $48,000 Interest expense 12.000 Total expenses Income before income taxes Income tax expense Net income $ 40,000 20,000 507 90,000 (40,000 -, 160,000 50.000) -507 150,000 01. 70,000 40,000 577 $510.000 160000) -12 0 $500,000 300.000 200,000 60,000 140,000 42.000 $ 98,000 Additional information: a. Cash dividends of $58,000 were declared and paid in 2021. b. Weighted average number of shares of common stock outstanding during 2021 was 30,000 shares. c. The market value of common stock on December 31, 2021, was $25 per share. Instructions 1. Using the financial statements and additional information (Show all computations): Prepared a horizontal-analysis for the Balance Sheet and a vertical analysis of the Income Statement and the Bainnee Sheet for Lakers Company for 2021 Calculate three ratios' analyses using the Lakers Company Income Statement information for 2021. Calculate three ratios analyses using 2021 Lakers Company balance sheet information