Question 7 1 pts Use the following comparative balance sheets to answer Questions 7 - 8 that follow. Kristina's Consulting Business Comparative Balance Sheets As at 30/06/2020 As at 30/06/2019 122,536 80,145 183,692 (21,200) 96,411 (5,200) Current assets Cash Accounts receivable (gross) Allowance for bad debts Net accounts receivable Inventory Supplies Prepaid Rent Total Current Assets 162,492 11,675 300 3,000 91,211 5,167 210 3,000 300,003 179,733 Non-current Assets Equipment Less Accumulated Depreciation Total Non-current Assets TOTAL ASSETS 150,000 (16,000) 150,000 (8,000) 134,000 434.003 142,000 321.733 Current Liabilities Accounts Payable Loan Payable - Short Term Unearned Revenue Total Current Liabilities 340,000 10,000 17,579 220,531 0 10,329 367,579 230,860 Non-current Liabilities Loan Payable - Long Term Mortgage Total Non-current Liabilities TOTAL LIABILITIES 33,000 7,000 2,000 0 40,000 407,579 2,000 232,860 Shareholders' Equity Contributed Capital Retained Earnings Total Shareholders' Equity 20,000 6,424 20,000 68,873 26,424 88,873 TOTAL LIABILITIES & SHAREHOLDERS' EQUITY 434,003 321.733 Question 7: Complete a horizontal analysis for the "Supplies" account. Round the percentage change to one decimal place (1 mark). Note: Do not enter the "%" symbol when entering your answer. For example if your answer is "4.1%", only enter "4.1". Question 8 1 pts Calculate the allowance ratio for the year ending 30 June 2020. Assume the number of days in the year is 365. Round the percentage change to one decimal place (1 mark). Note: Do not enter the "%" symbol when entering your answer. For example, if the answer is "8.0%", you should only enter "8.0