1 - Horizontal and Vertical Analysis Complete the following assignment and submit your work to the dropbox. Record your responses in a spreadsheet. Part A: Horizontal Analysis Item 2015 2014 2013 Net Sales Cost of Goods Sold $880 000 $ $800 000 $650 000 640 000 480 000 Gross Profit $280 000 $ Instructions: 1. Using horizontal analysis, calculate the trend percentages for net sales, cost of goods sol, and gross profit based on the data provided for Mason Corporation. Fill in the 3 missing values first. 2. Explain whether the trends are favourable or unfavourable for each item. Part B: Horizontal and Vertical Analysis Accounts Receivable Inventory Total Assets December 31, 2015 December 31, 2014 $960 000 $500 000 820 000 650 000 4 300 000 3 500 000 Instructions: 1. Using the above data taken from the comparative balance sheet of Hargrove Corporation. complete a horizontal analysis comparing 2015 to the base year 2014. 2. Using the above data from the comparative balance sheet of Hargrove Corporation, complete a vertical analysis that will compare accounts receivable and inventory to total assets for each year. 3. What conclusions can you draw? Part C: Comparative Balance Sheet - Horizontal and Vertical Analysis Current assets Capital assets Current liabilities Long-term debt Common shares Retained earnings 2014 2013 $322 $280 678 520 $180 $120 200 160 320 320 300 200 Instructions: 1. Using horizontal analysis, show the percentage change for each balance sheet item of Martin Corporation, using 2013 as a base year. 2. Using vertical analysis, prepare a common size comparative balance sheet for Martin Corporation for each year