Macaron Furniture Balance Sheets December 31 2021 December 31 2020 Assets $41,009 $52,707 566,670 446,171 5,082,280 4,807.923 84,050 77.620 5,774,009 5,384,421 1,093,968 1.095,850 $6,867,977 $6,480,271 Current assets: Cash Accounts receivable Inventory Prepaid expenses Total current assets Building and equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Bank loan payable Other accrued payables Total current liabilities Long-term debt Total liabilities Stockholders' equity: Common stock Retained earnings Total stockholders equity $604,072 $622,648 680,496 619,680 310,135 214.135 1,498.703 1,552.463 1719.289 1.810,406 3,217,992 3,362,869 1.362.391 1,362,391 2287,594 1,755,011 3,649.985 3,117.402 Total liabilities and stockholders' equity $6,867.977 $6,480,271 Macaron Furniture Macaron Furniture Statement of Earnings Year Ended December 31, 2021 Year Ended December 31, 2020 Net sales $5,526,702 $5,232,763 Cost of goods sold 2,868,080 2,620,595 Gross margin 2,658,622 2,612,168 Operating expenses: Selling expenses 496,536 628,350 General and administrative expenses 831,830 783,413 Total operating expenses 1,328,366 1,411,763 Operating income 1,330,256 1,200,405 Interest expense 137.644 159,181 Income before taxes 1,192,612 1,041,224 Income taxes 238,522 208,245 Net income $954,090 $832,979 Perform a horizontal analysis of the balance sheets for Macaron Furniture. (Round percentage change answers to 1 decimal place, es 5.2%. If amount and percentage are a decrease show the numbers as negative, es -55,000,-5.25% or (55,000), (5.25%) Macaron Furniture Balance Sheets December Amount 31 Change Chan Perce December 31. 2021 2020 Assets Current assets: Cash $41,009 $52,707 $ Accounts receivable 566,670 446,171 Inventory 5.082,280 4,807.923 Prepaid expenses 84,050 77,620 Total current assets 5,774,009 5,384421 Building and equipment, net 1,093,968 1.095,850 Total assets $6,867,977 $6,480.271 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $604,072 $622,648 $ Bank loan payable 680,496 619.680 Other accrued payables 214,135 310,135 Total current liabilities 1.498,703 1.552.463 Long-term debt 1.719.289 1.810,406 Total liabilities 3.217.992 3.362.869 Stadtholderianity Total current assets 5,774,009 5,384,421 Building and equipment, net 1,093,968 1,095,850 Total assets $6,867,977 $6,480,271 $ Liabilities and Stockholders' Equity Current liabilities: Accounts payable $604,072 $622,648 Bank loan payable 680,496 619.680 Other accrued payables 214,135 310.135 Total current liabilities 1,498,703 1,552,463 Long-term debt 1.719.289 1,810,406 Total liabilities 3,217.992 3,362,869 Stockholders' equity: Common stock 1,362,391 1,362,391 Retained earnings 2,287,594 1.755,011 Total stockholders' equity 3,649.985 3,117,402 Total liabilities and stockholders' equity $6,867,977 $6,480,271 $ e Textbook and Media nd percentage change answers to 1 decimal place, eg. 5,000, -5.25% or (55,000), (5.25%).) mount Change Percent Change % 9 % % % %
