Applying Integrated Excel: Horizontal and Vertical Analysis using ROUND Net sales Cost of goods sold Gross...

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Applying Integrated Excel: Horizontal and Vertical Analysis using ROUND Net sales Cost of goods sold Gross margin Operating expenses Net income Goliath Company Comparative Income Statements For Years Ended December 31 Current Year One Year Ago $ 271,000 135,000 136,000 54,000 $ 243,000 186,000 57,000 23,000 Two Years Ago Three Years Ago $ 211,000 131,000 $ 150,000 117,000 80,000 32,000 33,000 13,000 $ 82,000 $ 34,000 $ 48,000 $ 20,000 Cash Accounts receivable, net Merchandise inventory Plant assets, net Total assets Current liabilities Common stock Goliath Company Comparative Balance Sheets For Years Ended December 31 Current Year One Year Ago $ 95,000 $ 35,000 76,000 68,000 34,000 150,000 $ 355,000 $ 41,000 100,000 30,000 184,000 65,000 130,000 $ 298,000 $ 56,000 110,000 30,000 102,000 Two Years Ago Three Years Ago $ 45,000 59,000 33,000 100,000 $ 237,000 $ 39,000 100,000 30,000 68,000 Long-term liabilities Retained earnings Total liabilities and equity $ 355,000 $ 298,000 $ 237,000 Required: $ 32,000 42,000 41,000 90,000 $ 205,000 $ 35,000 120,000 30,000 20,000 $ 205,000 Using the above information, compute the following: 1) Calculate trend percents for all components of the income statements using three years ago as the base year, rounding all percents to 2 decimal places. 2) Express the balance sheets in common-size percents, rounding all percents to 2 decimals. Applying Integrated Excel: Horizontal and Vertical Analysis using ROUND Net sales Cost of goods sold Gross margin Operating expenses Net income Goliath Company Comparative Income Statements For Years Ended December 31 Current Year One Year Ago $ 271,000 135,000 136,000 54,000 $ 243,000 186,000 57,000 23,000 Two Years Ago Three Years Ago $ 211,000 131,000 $ 150,000 117,000 80,000 32,000 33,000 13,000 $ 82,000 $ 34,000 $ 48,000 $ 20,000 Cash Accounts receivable, net Merchandise inventory Plant assets, net Total assets Current liabilities Common stock Goliath Company Comparative Balance Sheets For Years Ended December 31 Current Year One Year Ago $ 95,000 $ 35,000 76,000 68,000 34,000 150,000 $ 355,000 $ 41,000 100,000 30,000 184,000 65,000 130,000 $ 298,000 $ 56,000 110,000 30,000 102,000 Two Years Ago Three Years Ago $ 45,000 59,000 33,000 100,000 $ 237,000 $ 39,000 100,000 30,000 68,000 Long-term liabilities Retained earnings Total liabilities and equity $ 355,000 $ 298,000 $ 237,000 Required: $ 32,000 42,000 41,000 90,000 $ 205,000 $ 35,000 120,000 30,000 20,000 $ 205,000 Using the above information, compute the following: 1) Calculate trend percents for all components of the income statements using three years ago as the base year, rounding all percents to 2 decimal places. 2) Express the balance sheets in common-size percents, rounding all percents to 2 decimals.