QUESTIONS McNally Industries has a condensed income statement as shown Sales Year 2 Year 1 Total operating expenses $198,000 $165,500 Net income 163.000 147.500 35,000 18,000 Using horizontal analysis, calculate the amount and percent change for sales. Round percentages to one decimal place @ A S32,500, 16.4% B. ($32,500), (16.4%) oc($32,500), (19.6%) D. $32,500, 19.6% The accounts in the ledger of Monroe Entertainment Co. are listed below. All accounts have normal balances. Accounts payable $1,500 Fees earned $8,600 Accounts receivable 1,800 Insurance expense 1,300 Supplies 500 Rent expense 1,500 Prepaid insurance 2,000 Land 8,000 3,200 Wages Retained Cash expense 1,400 Office equipment earnings 5,500 Dividends stock 9,200 Unearned rent Total assets are 1,800 1,200 Common 1,600 Prad