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. (l.e., 0.234 should be entered as 23.4).) GIBSON COMPANY Horizontal Analysis of Balance Sheets Year 4 Year 3 % Change $ % Assets Current assets Cash Marketable securities Accounts receivable (not) Inventories Prepaid Items Total current assets Investments Plant (net) Land Total long-term assets Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities Notes payable 16,600 20,400 55,000 136,400 25,500 253 900 27.700 271,700 30 900 330,300 584 2005 12,500 7.700 46,400 145,000 11,200 222 800 21,600 255,800 24.400 301.800 524,600 $ $ 16.600 5 4.400 $ 16,6005 113,300 20,600 150,500 4,400 99,000 14.100 117.500 Labus r lcour 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, 7 100 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 99,200 31,200 130,400 280 900 99,200 26,300 125.500 243.000 71.000 71.000 71.000 71 000 161 300 303.300 584 2005 139.600 281,600 524 600 $ 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....e..0.234 should be entered as 23.4). % Change % GIBSON COMPANY Horizontal Analysis of Income Statements Year 4 Year 3 Revenues Sales (net) $ 231,100 $ 210,500 Other revenues 9,500 6,500 Total revenues 240,600 217,000 Expenses Cost of goods sold 118,800 101,400 Selling, general and administrative expenses 53,600 48 700 Interest expense 7,800 7.000 Income tax expense 22.300 21,300 Total expenses 202.500 178.400 $ 38.100 $ 38.600 Net income (loss