a

b

Condensed data from the comparative statement of financial position of Dynatech Inc. follow: 2021 2020 2019 Current assets $113,000 $112,000 $97.000 401,000 329.000 303,000 Non-current assets Current liabilities 108,000 100,000 94.000 Non-current liabilities 89,000 111,000 121,000 Common shares 109,000 100,000 100,000 Retained earnings 208,000 130,000 85,000 Using horizontal analysis, calculate the percentage of a base-year amount, using 2019 as the base year. (Round answers to 1 decimal place, eg. 15.2%) DYNATECH INC. Horizontal Analysis of Statement of Financial Position (% of base-year amount) 2021 2020 2019 Current assets 96 % 96 Non-current assets 96 %6 % Current liabilities % % % Non-current liabilities % 36 % Common shares % % 56 % Retained earnings The statement of income for Hiroole Ltd. is shown below: HIROOLE LTD. Statement of Income Year Ended December 31 (in millions) 2021 2020 2019 Sales $1,593 $1,404 $1,188 Cost of goods sold 905 757 596 Gross profit 688 647 592 Operating expenses 516 408 396 Income from operations 172 239 196 Interest expense 80 50 40 Income before income tax 92 189 156 Income tax expense 25 47 39 $67 Net income $142 $117 HIROOLE LTD. Horizontal Analysis of Statement of Income (% of base-year amount) Year Ended December 31 2021 2020 2019 Sales 134.9 % 118.18 % 100 % Cost of goods sold 151.85 % 127.1 % 100 % Gross profit 116.22 % % 109.29 % 100 % 130.30 % 103.3 % 100 % Operating expenses Income from operations 87.75 % 121.94 % 100 % 200 125 de Interest expense % 100 %6 58.97 % 121.15 % 100 Income before income tax %6 %6 54.10 120.51 % 100 % Income tax expense