Analyzing Comparative Financial Statements Using Selected Ratios TCC Audio declared and paid a cash dividend of $5,525 in the current year. Its comparative financial statements, prepared at December 31, reported the following summarized information: Increase (Decrease) in Current (versus Previous) Current Previous Amount Percentage Income Statement Sales Revenue $222.000 $ 185,000 Cost of Goods Sold 127,650 111,000 Gross Profit 94,350 74.000 Operating Expenses 39,600 33,730 Interest Expense 4,000 3.270 Income before Income Tax Expense 50.750 37.000 Income Tax Expense (30%) $15.225 $11,100 Net Income $35,525 $25,900 Balance Sheet Cash Accounts Receivables. Net Inventory Property and Equipment, Net Total Assets 40.000 18,500 25,000 127,000 210,500 38,000 16,000 22.000 119,000 195,000 Accounts Payable $ 27,000 $ 25,000 Income Tax Payable 3,000 2.800 Note Payable (Long-Term) 75,500 92,200 Total Liabilities $105,500 $120,000 Common Stock (par S1) 25.000 25,000 Retained Earnings 80,000 50,000 Total Liabilities and Stockholder's Equity $210,500 $ 195,000 Required: 1. Calculate the two final columns shown beside each item in TCC Audis's comparative financial statements. (Round the precentages to two decimal places.) Points: Each ratio has 30 points - Question 1 has total 60 points 2. Which account increased by the largest dollar amount? Which account increased by the lartest precentage