Pinnacle Plus declared and paid a cash dividend of $7,500 in the current year, its comparative financial statements, prepared at December 31, reported the following summarized information: Required: 1. Complete the two final columns shown beside each item in Pinnacle Plus's comparative financial statements 2-a. Which account increased by the largest dollar amount? 2.b. Which account increased by the largest percentage? Complete this question by entering your answers in the tabs below. Req Reg 2 Reg 20 Complete the two final columns shown beside each item in Pinnacle Plus's comparative financial statements. (Decreases should be indicated by a minus sign. Round percentage values to 1 decimal place.) PINNACLE PLUS Horizontal Analysis Increase (Deca) in the current year tersus the Previous year Amount Percentage Current Year Previous Year $ Income Statement Sales Revenue Cost of Ooods sold Gross Profit Operating Expenses 1100005 63.800 05.200 40.500 106.300 s 48.000 56.400 36 250 13.700 4.000 8.800 5.250 13.01% 100 15.0 140 Horizontal Analysis Increase (Decrease) in the Current year (versus the Previous yearl Amount Percentage Current Year Previous Year Income Statement Sales Revenue Cost of Goods Sold $ 119.000 $ 53.800 13.700 4,900 8.800 5,250 85.200 40,500 4.000 105,300s 48.900 56,400 35,250 4,000 10.250 4,875 11,375$ 13.01% 10.0 15.6 14.0 0.0 10.800 5.040 3,550 1,005 2,485 21.8 21.8 21.8 56 $ 13.860 s Gross Profit Operating Expenses Interest Expense Income before Income Tax Expense Income Tax Expense (30%) Net Income Balance Sheet Cash Accounts Receivable. Net Inventory Property and Equipment, Net Total Assets $ 37,500 46 10.200 39,800 100,500 107.000 35.000 S 96 5 Accounts Payable Income Tax Payable Note Payable (long-term) Total Liabilities Common Stock (par $ 10) Retained Earnings Total Liabilities and Stockholders Equity 71,0425 18.800 25.000 95.000 212.542 5 43.8005 2.982 40.000 95,782 82.000 34,780 212,542 S 1.700 49,000 86,600 82.000 28.400 107.000 $ % Req2A > 1. Complete the two final columns shown beside each item in 2-a. Which account increased by the largest dollar amount? 2-b. Which account increased by the largest percentage? Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Reg 28 Which account increased by the largest dollar amount Account Required: 1. Complete the two final columns shown beside each item in Pinnacle Plus's comparative financial statements 2.a. Which account increased by the largest dollar amount? 2-b. Which account increased by the largest percentage? Complete this question by entering your answers in the tabs below. Heg1 HA 2A Reg 20 w nich account increased by the largest percentage?
