Conduct a horizontal analysis of your company's balance sheet: Dollar Change % Change ASSETS Cash Inventory Other Current Assets Property and Equipment Other Non-current Assets LIABILITIES & EQUITY Accounts Payable Other Current Assets Long-term Llabilities Total Equity Which asset account had the largest dollar decrease? Which asset account had the largest percentage decrease? Which liability or equity account had the largest dollar increase? Which liability or equity account had the largest percentage increase? Company assigned to students with last names beginning with "H" to "R 2017 2016 2018 73,785 69,495 49,145 20,350 13,356 71,879 51,125 52.241 21,544 14,665 1,969 (662) 5,572 607 Sales Cost of Sales Gross Margin Selling and Administrative Expenses Depreciation Other losses/(gains) Income from Operations Interest Expense Income before Income Tax 20,754 14,248 2,194 (6) 4,318 2,025 (68) 5,037 1,004 4,033 1,296 2,737 666 4,965 3,652 1,602 3,363 718 Income Tax Expense 2,934 Net Income ASSETS Current Assets 2,512 8,309 2,643 8,657 Cash Inventory Other Current Assets 1,169 11,990 24,658 1,264 12,564 25,018 1,417 38,999 Total Current Assets Property and Equipment 783 Other Non-current Assets 37,431 Total Assets LIABILITIES Current Liabilities Accounts Payable 8,677 4,524 13,201 7,252 Other Current Assets 5,455 Total Current Liabilities 12,707 Long-term Liabilities Total Liabilities 14,089 27,290 13,771 26,478 EQUITY Total Equity Total Liabilities and Equity 11,709 10,953 37,431 38,999 Prepare a common-size statement for your company's income statements. 2018 2017 2016 Sales Less: Cost of Sales Gross Margin Less: Selling & Admin Expenses Less: Depreciation Expense Less: Other losses/(gains) Income from Operations Less: Interest Expense Income before Income Tax Less: Income Tax Expense Net Income For the shaded boxes in the table above, show how you calculated the amounts: 2018 Sales: 2018 Cost of Sales 2018 Gross Margin 2017 Cost of Sales 2016 Cost of Sales What observations can you make about your company's performance based on the common- size statements above