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it says percent change where it cuts off The following information for Richetti Furniture, a retail furniture and design Richetti Furniture Balance Sheets December 31

it says percent change where it cuts off
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The following information for Richetti Furniture, a retail furniture and design Richetti Furniture Balance Sheets December 31 2021 December 31 2020 Assets Current assets: Cash $41.359 $53,290 Accounts receivable 570,100 442.179 5.112,730 4,886,842 Inventory Prepaid expenses 84,554 77.649 Total current assets 5,808,743 5.459.960 Building and equipment, net 1,103,291 1.090,790 Total assets $6,912,034 $6,550,750 $606,749 $627.952 673,532 629.090 Liabilities and Stockholders' Equity Current liabilities: Accounts payable Bank loan payable Other accrued payables Total current liabilities Long-term debt Total liabilities Stockholders' equity: 211,084 314,849 1.491,365 1.571,891 1.720,488 1,794,216 3,211,853 3,366,107 Common stock 1,348,896 1,348,896 Retained earnings 2,351.285 1.835,747 Total stockholders' equity 3,700,181 3,184,643 Total liabilities and stockholders equity $6,912,034 $6.550.750 Richetti Furniture Statement of Earnings Year Ended December 31, 2021 Year Ended December 31, 2020 Net sales $5,583,569 $5,288,126 Cost of goods sold 2,840.280 2,648,283 Gross margin 2,743.289 2,639,843 Operating expenses: Selling expenses 505.103 629,870 General and administrative expenses 834,880 785,311 Total operating expenses 1.339.983 1,415,181 Operating income 1,403,306 1,224,662 Interest expense 140,021 158,732 Income before taxes 1,263,285 1,065.930 Income taxes 252,657 213,186 Net income $1,010,628 $852,744 Perform a horizontal analysis of the balance sheets for Richetti Furniture. (Round percentage changewers to 1 decimal place 5.23. If amount and percentage are a decrease show the numbers as negative, es-55.000.-5.25% or (55.000 15.251 Richetti Furniture Balance Sheets December 31. 2021 December 31. 2020 Amount Change Pert Chu Assets Current assets Cash $41.359 $53.290 $ Accounts recevable 570.100 442.179 Inventory 5.112.730 4.886,542 Prepaid expenses 84,554 77.649 Total current assets 5,808,743 5.459.960 1,103,291 1.090,790 Building and equipment, net Total assets $6.912.034 $6,550.750 Liabilities and Stockholders' Equity Current liabilities Accounts payable $606, 749 $627.952 $ Bank loan payable 673,532 629,090 Other accrued payables 211084 314,549 Total current liabilities 1491.365 1571891 Long-term debt 1.720,488 1.794.216 Total liabilities 3.211.853 3.366, 107 Stockholders' equity Common stock 1.348.896 1.348.896 Retained earnings 2.351.285 1.635.747 Total stockholders equity 3.700.181 3,184,643 Total liabilities and stockholders' equity $6,912,034 $6.550.750 Perform a horizontal analysis of income statements for Richetti Furniture. (Round percentage change answers to 1 decimal place, eg. 5.2%. If amount and percentage are a decrease show the numbers as negative, eg.-55,000, -5.25% or (55,000). (5.25%) Year Ended December 31. 2021 Richetti Furniture Statement of Earnings Year Ended December 31, 2020 Percent Change Change Net sales $5,583,569 $5,288,126 Cost of goods sold 2,840.280 2,648,283 Gross margin 2.743,289 2,639,843 Operating expenses Selling expenses 505,103 629,870 General and administrative expenses 834,880 785,311 Total operating expenses 1,339.983 1,415,181 Operating income 1,403,306 1,224,662 Interest expense 140,021 158,732 Income before taxes 1,263,285 1,065,930 Income taxes 252,657 213,186 Net Income $1,010,628 $852,744

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