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Horizontal Analysis Financial Statement Analyses Directions: Compute for the percentage change in the comparative income statement of Ruel Foodhub. Ruel Foodhub Comparative Income Statements For the years ended 20AA and 20BB Percent Net Sales Less: Cost of Goods Sold Gross Profit Less: Other Expenses Operating Income Less: Interest Expense Net Income Amount 20AA 20BB 7,457,736 6,779,194 6,228,552 5,728,690 1,229,184 1,050,504 886,177 794,099 343,007 256,405 74,208 90,365 268,799 166,040 Ruel Foodhub Income Statement December 21, 20AA Net Sales Less: Cost of Goods Sold Gross Profit Less: Other Expenses Operating Income Less: Interest Expense Net Income Amount Percent 7,457,736 100% 6,228,552 84% 1,229,184 16% 886,177 12% 343,007 4% 74,208 1% 268,799 3% Ruel Foodhub Balance Sheet December 31, 20AA Cash Net Accounts Receivable Inventories Prepaid Rent Total Current Assets Equipment and Fixtures Less: Accumulated Depreciation Total Fixed Assets TOTAL ASSETS Amount 91,626 939,460 1,836,634 180,000 3,047,720 1,280,961 406,728 874,233 3,921,953 Percent 2.3% 24.0% 46.8% 4.6% 77.7% 32.7% 10.4% 22.3% 100% Accounts Payable Notes Payable Accruals Total Current Liabilities Long-term Debt Owner's Capital TOTAL LIABILITIES AND CAPITAL 467,376 321,000 436,560 1,224,936 608,000 2,089,017 3,921,953 11.9% 8.2% 11.1% 31.2% 15.5% 53.3% 100%