Condensed information is available for Kensington Brewing Company Ltd. in Assignment-Data sheet

Using the Assignment-Template, form the I/S and the B/S for the company

Using horizontal analysis, calculate the percentage of the base-year % for each of the statement of financial position and income statement items, assuming 2018 is the base year.

Using horizontal analysis, calculate the percentage of YoY % changes for each of the statement of financial position and income statement items.

Using vertical analysis, calculate the percentage of the base amount for the statement of financial position (% of Total Assets (or Total L+OE) Analysis) and income statement (% of Sales Analysis) for each year.

Identify at least one important change over the three year period in Kensington Brewing's statement of financial position and write your comments about it.

Identify at least one important change over the three year period in Kensington Brewing's income statement and write your comments about it.

1 KENSINGTON BREWING COMPANY LTD. 2 B/S & I/S accounts 3 (in thousands) 4 2020 2019 5 Accounts receivable 12,352 12,984 6 Cash 788 1190 7 Common Shares 26,312 24,424 8 Cost of goods sold 54,152 52,272 9 Current liabilities 13,710 12,670 10 Income tax expense 1,316 1,256 11 Interest expense 958 1,070 12 Inventory 6,582 6,802 13 Net sales 75,220 72,666 14 Non-current assets 77,248 68,192 15 Non-current liabilities 12,920 8,434 16 Operating expenses 15,606 15,278 17 Prepaids 710 700 18 Retained earnings 44,738 44,340 19 20 21 2018 11,730 100 22,426 55,714 18,604 402 1,384 6,500 75,348 73,616 9,108 16,798 792 42,600 22 23 E F H 1 L L M N N O P OR Horizontal Analysis Base Year (2018) Horizontal Analysis YOY % Vertical Analysis YOY % 2018 2020 2019 2018 2020 2019 2018 2020 2019 2018 A 1 KENSINGTON BREWING COMPANY LTD. 2 Statement of Financial Position 3 31-Dec 4 (In thousands) 5 2020 2019 5 Assets 7 8 9 10 11 Current Assets 12 13 Total assets 14 Liabilities and Shareholders' Equity 15 Liabilities 16 17 18 Total liabilities 19 20 21 Shareholders' equity zz Total liabilities and shareholders' equity 23 KENSINGTON BREWING COMPANY LTD. 24 Income Statement 25 Year Ended 26 31-Dec 27 (in thousands) 28 2020 2019 29 30 31 Gross profit 32 33 Income from operations 34 35 Income before income tax 36 37 Net Income 38 29 Horizontal Analysis Base Year (2018) ) Horizontal Analysis YOY X Vertical Analysis YOY % 2018 2020 2019 2018 2020 2013 2019 2018 2020 2019 2018