ctoring Enabled: MH Lab 1: Ratio Analysis i Saved * You received no credit for this question in the previous attempt. 11 The comparative financial statements prepared at December 31, Year 2, for Goldfish Company showed the following Year 2 Year 1 Statement of Earnings Sales revenue $ 332, 980* $280, 000 01:55:10 Cost of sales 267, 950 224, 000 Gross margin 65, 030 56, 000 Operating expenses and interest expense 44, 660 39,800 Earnings before income taxes 20, 370 16 , 200 Income tax expense 8 , 930 6 , 900 eBook Net earnings $ 11, 440 $ 9, 300 Statement of Financial Position Cash $ 4,010 $ 7,900 Accounts receivable (net) 13, 450 16, 000 Inventory 39 , 110 34, 000 Property, plant, and equipment (net) 51, 240 43, 000 $ 107, 810 $100, 900 Current liabilities (no interest) 13 , 590 $ 15, 800 Non-current liabilities (10% interest) 38 , 080 35 , 400 Common shares (6,000 shares) 36, 000 000'98 Retained earnings 20, 140 13, 700 $ 107, 810 $100, 900 One-third was credit sales. During Year 2, cash dividends amounting to $5,000 were declared and paid. Required: 1. Using the concept of horizontal analyis, complete the following columns for each item in the preceding compara statements (Negative answers should be indicated by a minus sign. Round percentage answers to 2 decimal pl should be entered as 12.43).): Increase (Decrease) Year 2 over Year 1 aw prt sc DI F7 F8 F9 F10 F2 F3 F4 F5 F6Enabled: MH Lab 1: Ratio Analysis i Saved You received no credit for this question in the previous attempt. Increase (Decrease) Year 2 over Year 1 Amount Percentage Statement of earnings Sales revenue $ 332,980 Cost of sales 267,950 Gross margin 65,030 Operating expenses and interest expense 14,660 Earnings before income taxes 20,370 Income tax expense 8,930 Net earnings $ 11,440 Statement of financial position: Cash Accounts receivable (net) Inventory Property, plant, and equipment (net) $ Current liabilities Long-term debt Common shares Retained earnings $ prt sc home en F9 F11 F3 F6 F7 F8 F10 & 9 O 5 6 8 W R O P