Prepare a horizontal analysis of both the balance sheet and income statement. Complete this question by entering your answers in the tabs below. Analysis Analysis Bal Sheet Inc Stmt Prepare a horizontal analysis of the balance sheet. (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).) Show less A SOLOMON COMPANY Horizontal Analysis of Balance Sheets Year 4 Year 3 % Change Assets Current assets Cash $ 16,900 $ 13,400 % Marketable securities 20,100 6,200 Accounts receivable (net) 55,600 47,300 Inventories 136,300 144,100 Prepaid items 26,200 10,700 Total current assets 255, 100 221,700 Investments 27,700 20,900 Plant (net) 270,800 255,100 Land 30,600 25,300 Total long-term assets 329,100 301,300 Total assets $ 584,200 $ 523,000 Liabilities and Stockholders' Equity Liabilities Current liabilities Notes payable $ 16,000 $ 4,900 Accounts payable 113,200 98,300 Salaries payable 20,200 13,700 Total current liabilities 149,400 116,900 Noncurrent liabilities Bonds payable 98,600 98,600 Other 31,400 25,300 Total noncurrent liabilities 130,000 123,900 Total liabilities 279,400 240,800 Stockholders' equity Preferred stock (par value $10,4% cumulative, nonparticipating; 7,500 shares 75,000 75,000 authorized and issued) Common stock (no par; 50,000 shares 75,000 75,000 authorized; 10,000 shares issued) Retained earnings 154,800 132,200 Total stockholders' equity 304,800 282,200 Total liabilities & stockholders' equity $ 584,200 $ 523,000 % Analysis Analysis Bal Sheet Inc Stmt Prepare a horizontal 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).) Show less A SOLOMON COMPANY Horizontal Analysis of Income Statements Year 4 Year 3 % Change Revenues $ $ Sales (net) % 230,400 210,800 Other revenues 8,100 6,500 Total revenues 238,500 217,300 Expenses Cost of goods sold 119,700 102,700 Selling, general, and administrative 53,300 49,700 expenses Interest expense 7,200 6,400 Income tax expense 22,100 21,100 Total expenses 202,300 179,900 Net income (loss) $ 36,200 $ 37,400 %