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Complete the two final columns shown beside each item in Tiger Audio's comparative financial statements. (Decreases should be indicated by a minus sign. Round percentage
Complete the two final columns shown beside each item in Tiger Audio's comparative financial statements. (Decreases should be indicated by a minus sign. Round percentage values to 1 decimal place.) TIGER AUDIO Horizontal Analysis Increase (Decrease) in Current (versus Previous) Amount Percentage Previous $ $ 37,900 20.4% 185,600 111,900 73,700 34,030 3,540 36,130 10,839 25,291 $ Current Income Statement Sales Revenue $ 223,500 Cost of Goods Sold 129,150 Gross Profit 94,350 Operating Expenses 40,200 Interest Expense 4,300 Income before Income Tax Expense 49,850 Income Tax Expense (30%) 14,955 Net Income $ 34,895 Balance Sheet Cash $ 36,370 Accounts Receivable, Net 18,950 Inventory 25,450 25,450 Property and Equipment, Net 130,000 Total Assets $ 210,770 Accounts Payable $ 27,600 Income Tax Payable 3,300 Note Payable (long-term) 75,800 Total Liabilities 106,700 Common Stock (par $1) 26,500 Retained Earnings 77,570 Total Liabilities and Stockholders' Equity | $ 210,770 $ $ $ 35,990 16,300 22,300 120,500 195,090 25,450 3,040 91,600 120,090 26,500 48,500 195,090 916 $
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