Perform vertical analysis on the Income Statement and Horizontal Analysis on the Balance Sheet.

INCOME STATEMENT DATA: Yr 2019 Sales Revenues 315,800 Cost of Goods Sold 126,320) Gross Profit 189,480 Operating Expenses: Selling Expense 37,896 Administrative Expense 78,950 Income from Operations B4 Interest & Taxes 72,634 Other Expense Interest Expense 6,316 Income Before Taxes 66,318 Less: Income Tax Expense 3,264 Net Income 53,054 BALANCE SHEET DATA FOR TWO YEARS ENDED ASSETS LIABILITIES Yr 2018 Yr 2019 Yr 2018 Yr '2019 Cash 15,000 10,000 Accounts Payable 210,000 140,000 Accounts Receivable 112,500 75,000 Wages Payable 55,500 37,000 Inventory 168,000 1 12,000 Total Current Liabilities 265,500 177,000 Total Current Assets 295,500 197,000 Long Term Liabilities Investments in Venture Inc. 150,000 100,000 Notes Payable (Due 2040) 345,000 230,000 Property Plant & Equipment Total Liabilities 610,500 407,000 Building 375,000 250,000 Accumulated Deprec-Bldg (75,000) (50,000) STOCKHOLDERS EQUITY Intangibles Common Stock, $0.25 Par 7,500 5,000 Copyrights 67,500 45,000 Additional Paid In Capital 139,500 93,000 Patents 123,750 82,500 Retained Earnings 287,700 191,800 Less: Treasury Stock (108,450) (72,300) Total Stockholders' Equity 326,250 217,500 Total Assets 936,750 624,500 Total Liabilities and Stockholders' Equity 936,750 624,500 ADDITIONAL DATA: Dividend Per Share $1.25 Market Price Per Share $45.00 Earnings Per Share $2.65 Weighted Avg Com. Stock Outstanding 20,000Working Capital (CA-CL) ~ 20000~ Current Ratio (CA/CL) ~ 1.113~ Quick (Acid-test) Ratio (Quick 0.48+ Assets/CL) ~ Accounts Receivable Turnover 3.369~ (Sales/Avg A/R) ~ Inventory Turnover (COGS/Avg 0.902~ Inventory) ~ Number of Times Interest is Earned 0.087+ (Int Exp/Operating Incm) ~ Debt Ratio (TL/TA) ~ 0.652~ Debt to Equity Ratio (TL/TSE) ~ 1.871~ Gross Margin Ratio (GM/Sales) ~ 0.6+ Return of Assets (NI/Avg TA) ~ 0.068~ Return on Equity (NI/Avg SE) ~ 0.244~ Dividend Yield (DPS/Mkt Price) ~ 0.028~ Price-Earnings (Mkt Price/EPS) ~ 16.981~ Earnings Per Share (Net Incm-Ps 2.65~ Divds/Comm Stock )~