Complete the horizontal and vertical analysis for the income statement and balance sheet below.

Complete the horizontal and vertical analysis for the incomestatement and balance sht below. Please use Excel formulas and proper cell referencing. Plus 'mome Statement MCTutorirw Plus Income Statement July 31, July31,20X' kc,ount Cost of pods ld Grog profit S'li d expgtse TCH epensg income income net income MC Tutorirg Plus Balance Sheet S S S S S S S 20X6 87,950 30,520 57,430 15,150 8,490 23,640 33,790 5,000 38,790 20X6 238,500 30,450 95,200 364,150 234.000 55,400 178,600 542,750 36,000 139,600 175,600 20,000 150.000 197,150 542,750 S S S S S S S oxs 75,840 32,1S0 43.690 13.020 8,290 21.310 22,380 3,500 25.880 20XS 12S.840 32, ISO 87,860 245,850 232,000 so,300 181,700 427,550 38,400 120,900 159,300 15,000 90.000 163.250 427,550 Ecount Cost of goods sold Gross profit Selling General and administrative expenses Total operati ng upenses Operating income Other income, net Net income Account Accounts receivable %rketabie surities Total Current sets Plant Accumulated Total plant assets Total assets Accou nts payable Notes payable Total liabilitie Common stock Additional paid-i n capital Retained earnings Total liabilities and S S S S S 20X6 87,950 30,520 57,430 IS. ISO 8,490 23.640 33,790 s,ooo 38,790 MC Tutorirw Plus Balance Sheet July 31, 20X1 keount kcounts reevle zuritiz Tot* curret Tot* Tot* k.counts Tota Iiilitje Common stock Editiond pad-in eznines Tot-a bd July 31, 20X1 S S S S S S S S S S S S S S S 20X6 238.500 30,450 95,200 364, 234,000 55,400 178.600 se.750 36,000 139,600 17s,soo 20.000 150,000 197.150 542,750 Vertid 2016 S S S S 20X6 S S S S S S S S 20XS 75,840 32,150 43,690 13,020 8,290 21,310 22,380 3>00 25,880 20XS 125,840 32,150 87,860 245,850 232,000 50,300 181,700 427,550 38,400 120,900 159.300 15,000 90.000 163.250 427,sso