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 Analysis Inc Sheet 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., 0.234 should be entered as 23.4).) FANNING COMPANY Horizontal Analysis of Balance Sheets Year 4 Year 3 % Chant Assets Current assets Cash 17,800 $ 13,500 % Marketable securities 21,500 6,700 Accounts receivable (net) 54,700 16,400 Inventories 136,300 144,900 Prepaid items 25,000 10,700 Total current assets 255,300 222,200 Investments 28,600 21,500 Plant (net) 271,400 256,300 Land 30.700 24,300 Total long-term assets 330,700 302,100 Total assets S 586,000 S 524,300 Liabilities and Stockholders' Equity Liabilities Current liabilities Notes payable 15,800 S 5,900 Accounts payable 12,100 39,300 Salaries payable 20,900 13,200 Total current liabilities 148,800 118,400 Noncurrent liabilities Bonds payable 99,500 99,500 Other 30,600 25,900 Total noncurrent liabilities 130,100 125,400 Total liabilities 278,900 243,800 Stockholders' equity Preferred stock (par value $10, 4% cumulative, nonparticipating; 6,600 shares authorized and issued) 66,000 66,000 Common stock (no par; 50,000 shares authorized; 10,000 shares issued) 66,000 66,000 Retained earnings 175,100 143,500 Total stockholders equity 307, 100 280,500 Total liabilities & stockholders equity 5 586,000 S 524,300 %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 Analysis Inc Sheet Start Prepare a honzontal analysis of the income statement. (Negative answers should be indicated by a minus sign. Round your percentage answers to 1 decimal place. (i.e., 0.234 should be entered as 23.4).) FANNING COMPANY Horizontal Analysis of Income Statements Year 4 Year 3 % Change Revenues Sales (net) $ 230,400 $ 210,800 % Other revenues 9,500 6,600 Total revenues 239,900 217,400 Expenses Cost of goods sold 119,900 101,600 Selling, general, and administrative expenses 54.000 19.200 Interest expense 6,800 5,000 Income tax expense 21,100 20, 100 Total expenses 201,800 176,900 Net income (loss) $ 38,100 $ 40,500 %