Paragraph Styles Question 4 Junk Incorporated reports the following set of financial statements for 2018 and 2019. Required - Using the following information, perform a vertical analysis for the income statement and balance sheet for 2018 and 2019: Junk Incorporated Income Statement For the Year Ended December 31, 2019 2019 2018 Sales Revenue Cost of goods sold Gross Margin $ $ $ 595,000 $ 378,000 $ 217,000 $ 634,000 353.000 281,000 Operating Expenses Selling and general expenses Interest expense Total expenses Net Income Inletes a 165.000 $ 15.2005 180, 2005 36,800 $ 203.000 8300 211 300 69,700 Foru B o PUSC Insert Ins * F12 Imper OP F10 x FB F F3 + * % ? $ ) 8 2 9 3 0 1/4 & 7 = 31 1/2 word Search Review View Help nces Mailings RSS Chapters 10 & 11 Junk Incorporated Balance Sheet December 31, 2019 2019 2018 Assets Cash Accounts Receivable Inventory Prepaid Expenses Total Current Assets $ $ $ $ $ 75,000 $ 25,000 $ 65,000 $ 12,000 $ 177,000 $ 95,000 26,000 53,000 10,500 184,500 Long Term Investments Property, plant and equipment, net Total Assets $ s $ $ 185,000 $ 362,000 $ 143,000 327,500 Liabilities Accounts Payable Income Taxes Payable Other liabilities Total Current Liabilities $ $ $ $ 22,000 $ 4,000 $ 110,000 $ 136,000 $ 29,000 4,200 33,200 Long Term Debt Total Liabilities inlin 19,900 S 155,900 $ 85,000 118,200 Shareholder Equity Common Shares Retained Earning Total Shareholders Equity Total Liabilities & Shareholder's Equity $ $ S $ 90.000 $ 116 100 S 206100 S 362,000 S 130.000 79,300 209.300 327.500 Croce