Below is the comparative financial statements for Nina Company for the year ended in 31st December 2019 and 2020. The market value of common stock of the company is RM30 per unit at 31st December 2019 and RM25 per unit at 31st December 2020. Nina Company Comparative Financial Statement For the year ended 31st December 2020 and 2019 2020 2019 Sales 1'025'000 651'520 Minus: Returns and Sales 25'000 11'520 Allowance Net Sales 1'000'000 640'000 Minus: The Cost Of Goods 680'000 416'000 Sold Gross Profit 320'000 224'000 Minus: Operation Expense 130'000 92 800 Sales Expense 65'000 44'800 Administrative Expense Total Operation 195'000 137'600 Expense Operation Income 125'000 86'400 Add : Other Income 5'000 3'840 130'000 90'240 Minus: Other Income 21'000 12'800 Income before Income 109'000 77'440 Tax 60'000 35'200 Minus: Income Tax Expense Net Income 49'000 42'240 Nina Company Comparative Retained Earning Statements For the year ended 31st December 2020 and 2019 2020 2019 Retained Income, 1 144'600 116'360 January 49'000 42'240 Add: Net Income 193'600 158'600 Minus: Dividen Preferred Stocks 8'000 8'000 Common Stocks 9'000 6'000 17'000 14'000 Income, 31 176'600 144'600 Retained December Nina Company Comparative Balance Sheet 31 December 2020 and 2019 2020 2019 Asset: Current Assets: Cash Marketable securities Accounts Receivable Inventory Prepaid Expenses Total Current Assets Long Term Investment Plant and Equipment 35'000 30'000 85'000 144'000 25'000 10'000 65'000 96'000 6'000 4'000 300'000 200'000 45'000 50'000 418'600 389'600 768'600 634'600 150'000 130'000 Total Assets Liabilities Current Liabilities Long term liabilities: Unpaid mortgage 10% maturity 2024 Unpaid Bon, 8% matured 2027 82'000 160'000 160'000 242'000 160'000 290'000 392'000 Total long term Liabilities Total Liabilities Owner's Equity: Preferred Stock 8%, par value RM100 Common Stock par value RM10 100'000 100'000 100'000 100'000 176'600 144'600 376'600 344'600 Retained Income Total Owner's Equity Total Liabilities and Owner's Equity 768'600 634'600 (a) Provide a horizontal analysis of income statement Nina Company in 2020 (b) Comment on the change show by the horizontal analysis in (a)