18-19 EXERCISES (S.O. 3) Using horizontal analyoie, compute the percentage increase or decrease tor Stevens Co. for each current asset and for current assets in total. x. 18-1 po ncrease or (Decrease) 2008 Amount Percentaae 2009 50,000 $ 54,000 ar Cash 72.000 90,000 100,000 -42.000-35.000 $236000 $247.000 Inventories Prepaid expenses Total EX. 18-2 (s.o. 4) Using vertical analysis, prepare a common-size income statement for Larry Budd, using net sales as the base. LARRY BUDD CORPORATION For the Year Ended December 2009 Amount Percent $780,000 Net sales Cost of goods sold . 310,000 140,000 170,000 16,000 Interest expense Income before income taxes Income tax expense.. Net income 62.000 $92.000