Prepare a horizontal analysis of both the balance sheet and income statement. Complete this question by entering your answers in the tabs below. Analysis Bal Sheet Analysis Inc Stmt Prepare a horizontal analysis of the balance sheet. (Negative answers should be indicated by a minus sign. Round your answers to 1 decimal place. (i.e., .234 sho be entered as 23.4).). FANNING COMPANY Horizontal Analysis of Balance Sheets 2019 2018 Percentage Change $ Assets Current assets Cash Marketable securities Accounts receivable (net) Inventories Prepaid items Total current assets Investments Plant (net) Land 17,000 20,500 55,600 135,800 26,000 254,900 27,500 270,400 30,300 12,300 7,800 47,600 144,000 10,700 222,400 21,900 256,300 25,200 27,500 270,400 30,300 328,200 583,100 21,900 256,300 25,200 303,400 525,800 $ $ $ Investments Plant (net) Land Total long-term assets Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities Notes payable Accounts payable Salaries payable Total current liabilities Noncurrent liabilities Bonds payable Other Total noncurrent liabilities Total liabilities Stockholders' equity Preferred stock (par value $10,4% cumulative, nonparticipating; 7,300 shares authorized and issued) Common stock (no par; 50,000 shares authorized; 10,000 shares issued) Retained earnings Total stockholders' equity Total liabilities & stockholders' equity 16,400 112,800 19,600 148,800 5,500 98,800 13,500 117,800 98,800 31,900 130,700 279,500 98,800 26,500 125,300 243,100 73,000 73,000 157,600 303,600 583,100 73,000 73,000 136,700 282,700 525,800 $ $ Prepare a horizontal analysis of both the balance sheet and income statement. Complete this question by entering your answers in the tabs below. Analysis Bal Sheet Analysis Inc Stmt Prepare a horizontal analysis of the income statement. (Negative answers should be indicated by a minus sign. Round your answers to 1 decimal place. (i.e., .234 should be entered as 23.4).) Percentage Change 9,700 6,200 FANNING COMPANY Horizontal Analysis of Income Statements 2019 2018 Revenues Sales (net) $ 230,800 $ 211,600 Other revenues Total revenues 240,500 217,800 Expenses Cost of goods sold 118,600 101,200 Selling, general, and administrative expenses 53,800 48,700 Interest expense 7,700 6,900 Income tax expense 22,200 21,200 Total expenses 202,300 178,000 Net income (loss) $ 38,200 $ 39,800