Income Statement
For the Year Ended December 31
	2020	2019
Sales	$ 281,000	$ 400,000
Less:
Cost of goods sold	204,000	190,000
Operating expenses (excluding depreciation)	32,000	55,000
Depreciation expense	5,000	10,000
Income taxes	10,000	12,000
Interest expense	5,000	7,000
Net income	$ 25,000	$ 126,000
SIDNEY COMPANY
Comparative Balance Sheet
31-Dec
	2020	2019
Assets
Cash	$ 24,000	$ 33,000
Accounts receivable	25,000	14,000
Inventories	41,000	25,000
Plant assets	69,000	78,000
Accumulated depreciation	(26,000)	(24,000)
Total	$ 133,000	$ 126,000
Liabilities and Stockholders' Equity
Accounts payable	$ 30,000	$ 43,000
Income Taxes Payable	25,000	20,000
Bonds payable	20,000	10,000
Common stock	25,000	25,000
Retained earnings	33,000	28,000
Total	$ 133,000	$ 126,000

Prepare a horizontal analysis for the income statement and vertical analysis of the balance sheet