The balance sheet data for Randolph Company for 2 recent years are as follows: Assets Year 2 Year 1 $445 $280 Current assets Plant assets Total assets 680 520 $1,125 $800 $285 255 Liabilities & Stockholders' Equity Current liabilities Long-term debt Common stock Retained earnings Total liabilities and stockholders' equity $120 160 320 325 260 200 $1,125 $800 Required: a. Using horizontal analysis, show the percentage change for each balance sheet item using Year 1 as the base year. Round percentages to one decimal place. Randolph Company Comparative Balance Sheet December 31, Year 2 and Year 1 Assets Year 2 Year 1 Increase/Decrease Increase/Decrease Amount Percentage Current assets $445 $280 Required: a. Using horizontal analysis, show the percentage change for each balance sheet item using Year 1 as the base year, Round percentages to one decimal place. Randolph Company Comparative Balance Sheet December 31, Year 2 and Year 1 Assets Year 2 Year 1 Increase/Decrease Increase/Decrease Amount Percentage Current assets $445 $280 Plant assets 680 520 Total assets $1,125 $800 Liabilities & Stockholders' Equity Current liabilities $285 $120 Long-term debt 255 160 Common stock 325 320 Retained earnings 260 200 Total liabilities and stockholders' equity $1,125 $800 b. Using vertical analysis, prepare a comparative balance sheet. Round percentages to one decimal place. Randolph Company Comparative Balance Sheet b. Using vertical analysis, prepare a comparative balance sheet. Round percentages to one decimal place. Randolph Company Comparative Balance Sheet December 31, Year 2 and Year 1 Year 2 Year 2 Year 1 Assets Year 1 Amount Percent Amount Percent Current assets $445 % $280 % Plant assets 680 % 520 % Total assets $1,125 % $800 % Liabilities & Stockholders' Equity Current liabilities $285 % $120 % Long-term debt 255 % 160 % Common stock 325 % 320 % Retained earnings 260 % 200 % Total liabilities and stockholders' equity $1,125 % $800 %