Golden Corporation declared and paid $3,000 of cash dividends during the current year ended December 31. Its financial statements also reported the following summarized data: Required: 1. Complete the horizontal analyses for each item in Golden Corporation's comparative financial statements. TIP Calculate the increase (decrease) by subtracting the previous year from the current year. Calculate the percentage by dividing the amount of increase (decrease) by the previous year balance. 2-a. Use the horizontal (trend) analyses to identify the accounts where a large percentage change is accompanied by a small dollar change 2-b. Use the horizontal (trend) analyses to identify the accounts where a directional change in one account balance is inconsistent with the directional change in a related account balance. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Reg 2B Complete the horizontal analyses for each item in Golden Corporation's comparative financial statements. TIP: Calculate the Increase (decrease) by subtracting the previous year from the current year. Calculate the percentage by dividing the amount of increase (decrease) by the previous year balance. (Decreases should be indicated by a minus sign. Round percentage values to 1 decimal place.) Show less GOLDEN CORPORATION Horizontal Analysis Increase (Decrease) in Current (versus Previous) Amount Percentage Current Previous Income Statement Sales revenue Cost of goods sold Gross profit Operating expenses Interest expense Income before income taxes Income tax expense Net Income Balance Sheet Cash Accounts receivable (net) Inventory Property and equipment (net) $ 180,000 110.000 70,000 53,300 2,700 14,000 4,000 10,000 $ 165,000 100,000 65,000 50,400 2,600 12,000 3,000 $ 9,000 $ 15,000 10,000 5,000 2,900 100 2,000 1,000 $ 1,000 9.1 % 10.0 7.7 58 3.9 X 16.7 33.3 11.1% IS 4,000 19,000 40,000 45,000 $ 108,000 $ 10,000 45,000 30,000 5,000 12,000 S 108.000 IS 8,000 23,000 35,000 38.000 $ 104,000 $ 19,000 45,000 30,000 5,000 5,000 $ 104,000 $ (4.000) (4.000) 5,000 7,000 $ 4,000 $ (3,000) Current liabilities Note payable (long-term) Common stock (par $5) Additional paid in capital Retained eaming (50.0) % (17.4) 14.3 18.4 3.9% (15.8) 7.000 4,000 140.0 3.9% IS Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. ODDI Reg 1 Req ZA Reg 28 Use the horizontal (trend) analyses to identify the accounts where a large percentage change is accompanied by a small dollar change. (Select all that apply.) Sales revenue Cost of goods sold Operating expenses Interest expense Income tax expense Gross profit Net Income Income before income taxes Cash Accounts receivable (net) Inventory Property and equipment (net) Current liabilities Note payable (long-term) Retained earings Additional paid-in capital Common stock Req1 Req 28 ) Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Req 1 Req 2A Rok 28 Use the horizontal (trend) analyses to identify the accounts where a directional change in one account balance is inconsistent with the directional change in a related account balance. (Select all that apply.) Sales revenue Cost of goods sold Operating expenses Interest expense Income tax expense Gross profit Net Income Income before income taxes Cash Accounts receivable (not) Inventory Property and equipment (net) Current liabilities Noto payable (long-term) Rotained earnings Additional paid in capital Common stock