ing Enabled: MH Lab 1: Ratio Analysis Saved You received partial credit in the previous attempt. The comparative financial statements prepared at December 31, Year 2, for Goldfish Company showed the following sum Year 2 Year 1 Statement of Earnings 37:04 Sales revenue $ 288, 950* $245, 000 Cost of sales 233 , 680 197 , 090 Gross margin $5, 270 48 , 006 Operating expenses and interest expense 39 , 920 35, 700 Earnings before income taxes 15, 350 12 , 300 Income tax expense 4, 130 3, 100 Net earnings $ 11, 220 $ 9, 200 Statement of Financial Position Cash $ 4, 780 $ 9,600 Accounts receivable (net) 19, 120 23 , 000 Inventory 49, 060 43, 000 Property, plant, and equipment (net) 43, 150 36, 500 $ 116, 110 $112, 100 Current liabilities (no interest) $ 15, 220 $ 18, 400 Non-current liabilities (10% interest) 40, 670 37 , 400 Common shares (6,000 shares) 42, 000 42, 000 Retained earningst 18 , 220 14, 300 $116, 110 $112, 100 *One-third was credit sales. During Year 2, cash dividends amounting to $7,300 were declared and paid. Required: 1. Using the concept of horizontal analyis, complete the following columns for each item in the preceding comparative statements (Negative answers should be indicated by a minus sign. Round percentage answers to 2 decimal places should be entered as 12.43).): Increase (Decrease) Year 2 over Year 1