3/4 100% + 11. Horizontal & Vertical Analysis (10 points) 1. Perform the Horizontal & Vertical Analysis (as required) for the following Financial Statements: Blank Cells = Required Fields a. Horizontal Method Percent Retained Earnings, Jan. 1 $425,000 $396,500 Add: Net Income $564,000 $494,000 $989,000 $890,500 Deduct: Dividends $50,000 $40,000 Retained Earnings, Dec.31 $939,000 $850,500 2021 2020 Amount b. Vertical Method Percent Sales revenue Sales returns and allowances Net Sales CGS Gross profit 2021 Amount Percent $4,765,000 $107.000 $4,658,000 $2,100,000 $2.558,000 2020 Amount $2,010,000 $103,000 $1,907,000 $1,030,000 $877,000 + al