Can you please help to prepare a horizontal and vertical analysis of the Balance Sheet and the Income Statement.

Based on the results of your vertical and horizontal analyses, which accounts appear out of alignment? Provide a brief analysis of the relationships between the accounts.

Statements of Income For the Periods Ending June 30, 20X3, 20X2, and 20X1 (In Thousands) 20x3 20X2 20X1 $ 18,848 10,598 8,250 $ 12,445 6,833 5,612 $ 8,213 4,523 3,690 967 149 3,366 1,335 1,889 895 Sales Cost of goods sold Gross profit 2 General and administrative expenses 3 Research and development costs 4. 5 Income from operations Net interest expense 7 Loss on sale of receivables, factored 3 9 Income before income taxes Provision for income taxes 1 2 Net income 7,134 217 911 64 906 161 77 847 668 6,917 2,268 556 284 $ 4,649 $ 291 $ 384 Statements of Financial Position As of June 30, 20X3, 20X2, and 20X1 (In Thousands) June 30. 20X3 June 30. 20X2 June 30. 20X1 $ 2,388 $ 1,695 s 453 Current assets: Cash and cash equivalents Accounts receivable, net of allowance for doubtful accounts of $56; $171; and $105 June 30, 20X3; 20x2; and 20X1, respectively Inventories Current portion of notes receivable Deferred income taxes Other current assets 5,592 9,434 2,681 211 1,157 3,432 5,034 1,592 209 971 2,094 3,266 622 299 552 Total current assets 21,463 12,933 7,286 Equipment and leasehold improvements, net Other assets Deferred income tax Intangible assets 6,940 183 222 274 910 167 126 251 600 163 34 252 Total assets $29,082 $14,387 S 8,335 Current Liabilities: Notes payable Current portion of long-term obligations under capital leases Accounts payable and accrued expenses Income taxes payable Total current liabilities $ 1,625 136 5,862 614 $ 1,328 103 3,871 591 $ 1,021 95 2,307 86 8,237 5,893 3,509 161 79 Long-term obligations under capital leases Deferred income taxes 367 242 Total liabilities 8,846 6,054 3,588 Stockholders' equity: Common stock Additional paid-in capital Retained earnings 183 14,213 5,840 56 7,086 1,191 37 3,810 900 Total stockholders' equity 20,236 8,333 4,747 Total liabilities and stockholders' equity $ 29,082 $14,387 $ 8,335