Performing a Horizontal and Vertical Analysis a. Prepare a horizontal analysis for the period from 2019 to 2020 for the financial statements of Eagle Corp. provided below. Use a negative sign to indicate a decrease. Round the percentage change to the nearest whole percentage point (for example, enter 60 for 50.4% or 61 for 60.5%). Horizontal Analysis Income Statement 2019 2020 Dollar Change Percentage Change Revenues $525,000 $480,000 $ 96 Cost of goods sold 325,500 300,000 $ 96 Gross margin 199,500 180,000 $ 96 Operating expenses 128,800 108,000 $ 96 Net income $70,700 $72,000 $ 96 Horizontal Analysis Balance Sheet 2019 2020 Dollar Change Percentage Change Current assets $39,200 $ 42,000 5 96 Non-current assets 280,000 234.000 $ 96 Total assets $319,200 $276.000 5 Current liabilities $ 37,800 $ 36,000 5 96 Non-current liabilities 133.000 108,000 $ 96 Total liabilities 170,800 144,000 $ 96 Stockholders' equity 148,400 132.000 96 96 Total liabilities and stockholders' equity $319,200 $276.000 $ b. Prepare a vertical analysis for the years of 2019 and 2020 for the financial statements for Eagle Corp. provided below. Do not use a negative sign in your answers. Round to the nearest whole percentage point (for example, enter 60 for 60.4% or 61 for 60.5%). Vertical Analysis 2019 2020 Income Statement 2019 2020 % of Sales % of Sales Revenues $525.000 $480,000 96 96 Cost of goods sold 325,500 300,000 96 Gross margin 199,500 180,000 96 Operating expenses 128,800 108,000 96 96 Net income $70,700 $72.000 96 96 06 Vertical Analysis 2019 % of Total Assets 2020 % of Total Assets 96 96 96 96 96 Balance Sheet 2019 2020 Current assets $39,200 $ 42,000 Non-current assets 280,000 234.000 Total assets $319,200 $276.000 Current liabilities $37,800 $36.000 Non-current liabilities 133,000 108,000 Total liabilities 170,800 144,000 Stockholders' equity 148,400 132.000 Total liabilities and stockholders' equity $319,200 $276.000 96 96 96 96 96 96 96 96