The financial statements of 2FM Trading Lid. are given below: 2014 2013 Cash and Cash Equivalents 12,250 10,470 Receivables 9,065 8,055 Inventory 6,620 5,300 Prepaid Expenses 6,545 10,600 Total Curent Assets 36,480 34,425 Other Assets 92,500 78,685 Total Assets 128,980 113, 110 Total current liabilities 36,150 42,335 Long-term Liabilities 23,990 18,960 Mercedes Aldana, Capital 68,840 51,815 Total Liabilities and 128,980 113,110 Equity 2014 Sales 104,705 Cost of Sales 32,275 Gross Profit 69.430 ource was Selling Expenses 35,325 urseHero.com Administrative 12,815 Expenses Operating Income 21,290 Interest Expense 1,050 Net Income 20,240 QUESTIONS 1 : HORIZONTAL/VERTICAL ANALYSIS 1. Horizontal analysis of 2014 2FM's balance sheet would report 2. Vertical analysis of 2014 2FM's balance sheet would report 3. A common-size income statement for 2FM would report (amounts rounded] 4. A common-size balance sheet for 2FM would report (amounts rounded) 5. Trend analysis will show which of the following? 6. If current assets are P270,000 and total assets are P$10,000, what percentage of total assets are current assets? 7. Comparing the amount of a balance sheet item in one year to the amount for the same item in a prior year is called B. A firm has liabilities of P30,000 and owner's capital of P90,000. The percentage of total liabilities to total assets is 9. A firm had owner's capital of P150,000 in 2013 and P187,500 in 2013. The increase in owner's capital from 2013 to 2014 is 10. If long-term liabilities are P300,000 and total assets are P2,100,0DO, what percentage of total assets are long-term liabilities