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Tiger Audio declared and paid a cash dividend of $6,525 in the current year. Its comparative financial statements, prepared at December 31, reported the following
Tiger Audio declared and paid a cash dividend of $6,525 in the current year. Its comparative financial statements, prepared at December 31, reported the following summarized information: Required: 1. Complete the two final columns shown beside each item in Tiger Audio's comparative financial statements. 2-a. Which account increased by the largest dollar amount? 2-b. Which account increased by the largest percentage? Complete this question by entering your answers in the tabs below. Reg 1 Req 2A Req 2B Complete the two final columns shown beside each item in Tiger Audio's comparative financial statements. (Decreases should be indicated by a minus sign. Round percentage values to 1 decimal place.) vn beside comparative financial statements. (Decreases should be indicated by a minus sign. Round percentage values to 1 decimal place.) TIGER AUDIO Horizontal Analysis Current Previous Increase (Decrease) in Current (versus Previous) Amount Percentage $ 227,000 $ 187,000 132,650 114,000 94,350 73,000 41,600 34,730 5,000 4,170 47,750 34,100 14,325 10,230 33,425 $ 23,870 % % % % % % % % $ Income Statement Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Interest Expense Income before Income Tax Expense Income Tax Expense (30%) Net Income Balance Sheet Cash Accounts Receivable, Net Inventory Property and Equipment, Net Total Assets Accounts Payable Income Tax Payable Notes Payable (long-term) Total Liabilities Common Stock (par S1) Retained Earnings Total Liabilities and Stockholders' Equity % % % % % $ 27,900 $ 31,300 20,000 17,000 26,500 23,000 137,000 124,000 $ 211,400 $ 195,300 $ 29,000 $ 26,500 4,000 3,600 76,500 90,200 109,500 120,300 30,000 30,000 71,900 45,000 $ 211,400 $ 195,300 % % % % % % %
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