1.) Differentiate and explain thoroughly the function/use of Balance Sheet, Profit Loss Statement and Cash Flow Statements.

II. Fill-in the blanks and perform a Horizontal Analysis (HA) and Vertical Analysis (VA) onthe following Balance Sheet and Income Statement Income Statement 2009 $70,134 VA VA HA 2010 $95,314 Revenue Total Expenses Cost of Goods Sold SG Expenses Other Expenses Interest Expense Provision for Taxes Net Income after tax 25,913 13,531 12,382 2,862 3,766 36,724 17,461 13,425 3,345 5.123 VA VA HA Assets Cash and Marketable Securities Accounts Receivable Inventory Total Current Assets Property, Plant and Equipment Total Assets Balance Sheet 2009 $6,029 14,378 17,136 2010 $10,234 15,875 16,752 2,442 3,462 $14,251 $16,231 Liabilities and Stockholders Equity Current Liabilities Long-Term Debt Total Liabilities Shareholders' Equity Total Liabilities and Equity 26,875 30,739