Problem 13-17A (Algo) Horizontal analysis LO 13-1 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 to 1 decimal place. (i.e., .234 should be entered as 23.4).) ROONEY COMPANY Horizontal Analysis of Balance Sheets Year 4 Year 3 % Change Assets Current assets Cash Marketable securities $ 18,000 $ 13,400 % 21,900 6,500 Accounts receivable (net) Inventories 55,900 48,000 136,700 144,300 Prepaid items 25,400 10,200 Total current assets 257,900 222,400 Investments 27,700 21,100 Plant (net) 270,400 256,800 Land 29,200 24,200 Total long-term assets 327,300 302,100 Total assets $ 585,200 $ 524,500 Liabilities and Stockholders' Equity Total assets Liabilities and Stockholders' Equity Liabilities $ 585,200 $ 524,500 Current liabilities Notes payable Accounts payable 16,800 $ 4,500 112,300 98,200 Salaries payable 20,700 13,400 Total current liabilities 149,800 116,100 Noncurrent liabilities Bonds payable Other Total noncurrent liabilities Total liabilities 99,700 99,700 31,900 25,100 131,600 124,800 281,400 240,900 Stockholders' equity Preferred stock (par value $10, 4% cumulative, 68,000 68,000 nonparticipating; 6,800 shares authorized and issued) Common stock (no par; 50,000 shares authorized; 10,000 68,000 68,000 shares issued) Retained earnings 167,800 147,600 Total stockholders' equity 303,800 283,600 Total liabilities & stockholders' equity 585,200 524,500 % Problem 13-17A (Algo) Horizontal analysis LO 13-1 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).) ROONEY COMPANY Horizontal Analysis of Income Statements Revenues Sales (net) Other revenues Total revenues Expenses Year 4 Year 3 % Change $ 230,600 $ 210,700 % 9,300 6,300 239,900 217,000 Cost of goods sold 118,700 101,600 Selling, general, and administrative expenses 53,900 48,700 Interest expense 6,400 5,600 Income tax expense 22,900 21,900 Total expenses 201,900 177,800 Net income (loss) $ 38,000 $ 39,200 %