5 value: 2.14 points CP13-1 Analyzing Comparative Financial Statements Using Horizontal Analyses [LO 13-2, LO 13-5] The comparative financial statements prepared at December 31 for Goldern following summarized data: showed the Required 1. Complete the two final columns shown beside each item in Golden Corporation's comparative financial statements. TIP: Calculate the increase (decrease) by subtracting the previous year from the current year. Calculate the percentage by dividing the amount of increase (decrease) by the previous year balance. (Decreases should be indicated by a minus sign. Round percentage values to 1 decimal place.) GOLDEN CORPORATION Horizontal Analysis Increase (Decrease) in Current (versus Previous) Amount Current Previous Percentage Income Statement Sales revenue Cost of goods sold Gross profit Operating expenses Interest expense Income before income taxes Income tax expense Net income Balance Sheet Cash Accounts receivable (net) Inventory Property and equipment (net) S 198,000 S 177,600 107,200 70,400 52,200 4,220 13,980 4,800 S 10,900 S 9,180 119,000 79,000 56,900 4,500 17,600 6,700 S 4,300S 7,300 22,200 36,800 34,500 S 104,700 S 100,800 S 15,200 S 17,400 53,000 22,000 4,200 4,200 S 104,700 S 100,800 18,100 38,700 43,600 Current liabilities Note payable (long-term) Common stock (par S5) Additional paid-in capital Retained earnings* 53,000 22,000 4,200 10,300