Masaya Corporation Comparative Statement of Financial Position December 31 (in Thousand Pesos) 2019 2018 ASSETS Current Assets Cash and Cash Equivalents 24.890 2,120 Held for Trading 10.000 Trade and other Receivables 16.000 6,000 Inventory 8.960 10,600 Total Current Assets 59.850 18,720 Non-Current Asset Property, Plant and Equipment 150,000 161,280 Investment in Equity Securities 16,000 20,000 Total non-current Asset 166,000 181,280 TOTAL ASSET 225.850 200,000 LIABILITIES AND SHAREHOLDERS EQUITY Current Liabilities Trade and Other Liabilities 8,400 3,350 Notes Payable - current 900 600 Unearned Revenues 10,600 11,650 Total Current Liabilities 19,900 15,600 Non-Current Liabilities Notes Payable - non-current 73,550 100,000 Total Liabilities 93,450 115,600 Shareholders' Equity Ordinary Share, P100 par 80,000 60,000 Premium on Ordinary Shares 16,000 10,000 Retained Earnings 36,400 14,400 Total Shareholders' Equity 132,400 84,400 TOTAL LIABILITIES AND SHAREHOLDERS EQUITY 225,850 200,000Masaya Corporation Comparative Income Statement For the year ended December 31 (in Thousand Pesos) 2019 2018 Sales 480.000 400,000 Less: Cost of Sales 364.000 280.000 Gross Income 116.000 120.000 Add : Other Income 15.000 9,600 Total Income 131.000 129.600 Less: Other Expense 12.400 Finance Cost (Interest) 14.400 19.000 Net Income before Taxes 104.200 110.600 Less: Income Tax 32.334 35,392 NET INCOME AFTER TAXES 71.866 75,208 Requirement: 1. Prepare a HORIZONTAL and VERTICAL analysis for the company. 2. Below your computation, present a concise analysis, interpretation and conclusion about the result of your computation