Music Magic Income Statement For the Year Ended December 31st, 2019 2019 2018 Revenues Service Revenue $6,500 $6,000 Expenses Advertising Expense $800 $750 Depreciation Expense 400 350 Interest Expense 100 100 Rent Expense 500 500 Salaries Expense 2,400 2,200 Supplies Expense 900 800 Total Expenses $5,100 $4,700 Net Income $1,400 $1,300

You will need to complete a horizontal analysis on the income statement and a vertical analysis on the Balance sheet. The information for the assignment can be found in the excel document provided. Please complete the analyses in a copy of the excel document, including your formulas.