Class Exercise: Opter 1: Name CLASS EXERCISE CHAPTER 18: FINANCIAL STATEMENT ANALYSIS PRINCIPLES OF ACCOUNTING II (ACC220) SEMESTER 2, 2021-2022 2020 QUESTION 1 The comparative balance sheet of Nathan Company appears below: NATHAN COMPANY Comparative Balance Sheet December 31, 2021 Assets Current assets $ 420,000 Plant assets 780,000 Total assets $ 1,200,000 Liabilities and stockholders' equity Current liabilities $ 168,000 Long-term debt 300,000 Common stock 432,000 Retained earnings 300,000 Total liabilities and stockholders' equity $ 1,200,000 $ 333,000 567,000 $ 900,000 $ 144,000 162,000 306,000 288,000 $900,000 REQUIRED: (a) Using horizontal analysis, show the percentage change for each balance sheet item using 2020 as a base year. (b) Using vertical analysis, prepare a common size comparative balance sheet