The following balance sheet items are available from Carnell Inc. as of December 31, 2012: 2011 2012 75,500 50,000 125,000 240,000 100,000 15,000 (in millions) 35,035 85,065 25,000 300,000 80,000 25,635 Accounts payable Accounts receivable Bonds payable, due 12/31/2016 Buildings, net Capital stock, 25 par Cash Equipment, net Income taxes payable Interest payable 24,000 12,250 24,000 16,465 7,550 13,755 25,650 300,000 Inventory 27,270 200,000 100,000 Land Long-term investments Notes payable, due 6/30/2013 Supplies Additional paid-in capital 125,000 100,000 100,000 12,500 13,500 200,000 190,000 Patents 6,000 6,000 Prepaid rent Retained earnings Salaries payable 10,150 12,275 146,295 306,135 35,500 33,560 Required a. Prepare a comparative, classified balance sheet for Carnell Inc. b. Perform horizontal and vertical analyses and interpret the results. Round percentages to one decimal point (i.e., 10.1%). c. Assume the same information above except that in 2012, Bonds payable is R0 while Retained earnings is 271,295. Does this new information change any interpretations previously made?