Prepare a horizontal analysis of both the balance sheet and income statement.

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 should be entered as 23.4).)

THORNTON COMPANY
Horizontal Analysis of Balance Sheets
	2019	2018	Percentage Change
Assets
Current assets
Cash	$16,700	$12,200		%
Marketable securities	21,300	7,500
Accounts receivable (net)	54,100	46,500
Inventories	136,100	144,600
Prepaid items	26,300	10,400
Total current assets	254,500	221,200
Investments	27,100	20,100
Plant (net)	271,400	255,700
Land	30,000	24,500
Total long-term assets	328,500	300,300
Total assets	$583,000	$521,500
Liabilities and Stockholders Equity
Liabilities
Current liabilities
Notes payable	$15,800	$4,700
Accounts payable	113,100	98,400
Salaries payable	20,600	13,800
Total current liabilities	149,500	116,900
Noncurrent liabilities
Bonds payable	98,500	98,500
Other	30,900	26,800
Total noncurrent liabilities	129,400	125,300
Total liabilities	278,900	242,200
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	172,100	147,300
Total stockholders' equity	304,100	279,300
Total liabilities & stockholders equity	$583,000	$521,500		%

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).)

THORNTON COMPANY
Horizontal Analysis of Income Statements
	2019	2018	Percentage Change
Revenues
Sales (net)	$230,600	$210,900		%
Other revenues	10,000	6,800
Total revenues	240,600	217,700
Expenses
Cost of goods sold	118,100	101,100
Selling, general, and administrative expenses	53,300	48,400
Interest expense	7,500	6,700
Income tax expense	22,400	21,400
Total expenses	201,300	177,600
Net income (loss)	$39,300	$40,100		%