Pinnacle Plus declared and paid a cash dividend of $7,500 in the current year. Its comparative...

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Pinnacle Plus declared and paid a cash dividend of $7,500 in the current year. Its comparative financial statements, prepared at December 31, reported the following summarized information: Required: 1. Complete the two final columns shown beside each item in Pinnacle Plus's comparative financial statements. 2-a. Which account increased by the largest dollar amount? 2-b. Which account increased by the largest percentage? Req 1 Req 2A Req 2B Complete the two final columns shown beside each item in Pinnacle Plus's comparative financial statements. (Decreases should be indicated by a minus sign. Round percentage values to 1 decimal place.) PINNACLE PLUS Horizontal Analysis Increase (Decrease) in the Current year (versus Previous year) Current Year Previous Year Amount Percentage Income Statement Sales Revenue 2$ 119,000 $ 105,300 % Cost of Goods Sold 53,800 48,900 % Gross Profit 65,200 56,400 % Operating Expenses 40,500 35,250 % Interest Expense 4,900 4,900 % Income before Income Tax Expense 19,800 16,250 Income Tax Expense (30%) 5,940 4,875 % Net Income $ 13,860 $ 11,375 % Balance Sheet Cash $ 71,760 $ 37,200 % Accounts Receivable, Net 18,800 10,200 % Inventory 25,900 39,800 % Property and Equipment, Net 95,900 109,500 % Total Assets $ 212,360 $ 196,700 % Accounts Payable $ 43,800 $ 35,900 % Income Tax Payable 2,800 1,400 % Notes Payable (long-term) 49,000 49,000 % Total Liabilities 95,600 86,300 % Common Stock (par $10) 82,000 82,000 % Retained Earnings 34,760 28,400 Total Liabilities and Stockholders' Equity $ 212,360 $ 196,700 % Which account increased by the largest dollar amount? Account Which account increased by the largest percentage? Аccount Pinnacle Plus declared and paid a cash dividend of $7,500 in the current year. Its comparative financial statements, prepared at December 31, reported the following summarized information: Required: 1. Complete the two final columns shown beside each item in Pinnacle Plus's comparative financial statements. 2-a. Which account increased by the largest dollar amount? 2-b. Which account increased by the largest percentage? Req 1 Req 2A Req 2B Complete the two final columns shown beside each item in Pinnacle Plus's comparative financial statements. (Decreases should be indicated by a minus sign. Round percentage values to 1 decimal place.) PINNACLE PLUS Horizontal Analysis Increase (Decrease) in the Current year (versus Previous year) Current Year Previous Year Amount Percentage Income Statement Sales Revenue 2$ 119,000 $ 105,300 % Cost of Goods Sold 53,800 48,900 % Gross Profit 65,200 56,400 % Operating Expenses 40,500 35,250 % Interest Expense 4,900 4,900 % Income before Income Tax Expense 19,800 16,250 Income Tax Expense (30%) 5,940 4,875 % Net Income $ 13,860 $ 11,375 % Balance Sheet Cash $ 71,760 $ 37,200 % Accounts Receivable, Net 18,800 10,200 % Inventory 25,900 39,800 % Property and Equipment, Net 95,900 109,500 % Total Assets $ 212,360 $ 196,700 % Accounts Payable $ 43,800 $ 35,900 % Income Tax Payable 2,800 1,400 % Notes Payable (long-term) 49,000 49,000 % Total Liabilities 95,600 86,300 % Common Stock (par $10) 82,000 82,000 % Retained Earnings 34,760 28,400 Total Liabilities and Stockholders' Equity $ 212,360 $ 196,700 % Which account increased by the largest dollar amount? Account Which account increased by the largest percentage? Аccount Pinnacle Plus declared and paid a cash dividend of $7,500 in the current year. Its comparative financial statements, prepared at December 31, reported the following summarized information: Required: 1. Complete the two final columns shown beside each item in Pinnacle Plus's comparative financial statements. 2-a. Which account increased by the largest dollar amount? 2-b. Which account increased by the largest percentage? Req 1 Req 2A Req 2B Complete the two final columns shown beside each item in Pinnacle Plus's comparative financial statements. (Decreases should be indicated by a minus sign. Round percentage values to 1 decimal place.) PINNACLE PLUS Horizontal Analysis Increase (Decrease) in the Current year (versus Previous year) Current Year Previous Year Amount Percentage Income Statement Sales Revenue 2$ 119,000 $ 105,300 % Cost of Goods Sold 53,800 48,900 % Gross Profit 65,200 56,400 % Operating Expenses 40,500 35,250 % Interest Expense 4,900 4,900 % Income before Income Tax Expense 19,800 16,250 Income Tax Expense (30%) 5,940 4,875 % Net Income $ 13,860 $ 11,375 % Balance Sheet Cash $ 71,760 $ 37,200 % Accounts Receivable, Net 18,800 10,200 % Inventory 25,900 39,800 % Property and Equipment, Net 95,900 109,500 % Total Assets $ 212,360 $ 196,700 % Accounts Payable $ 43,800 $ 35,900 % Income Tax Payable 2,800 1,400 % Notes Payable (long-term) 49,000 49,000 % Total Liabilities 95,600 86,300 % Common Stock (par $10) 82,000 82,000 % Retained Earnings 34,760 28,400 Total Liabilities and Stockholders' Equity $ 212,360 $ 196,700 % Which account increased by the largest dollar amount? Account Which account increased by the largest percentage? Аccount Pinnacle Plus declared and paid a cash dividend of $7,500 in the current year. Its comparative financial statements, prepared at December 31, reported the following summarized information: Required: 1. Complete the two final columns shown beside each item in Pinnacle Plus's comparative financial statements. 2-a. Which account increased by the largest dollar amount? 2-b. Which account increased by the largest percentage? Req 1 Req 2A Req 2B Complete the two final columns shown beside each item in Pinnacle Plus's comparative financial statements. (Decreases should be indicated by a minus sign. Round percentage values to 1 decimal place.) PINNACLE PLUS Horizontal Analysis Increase (Decrease) in the Current year (versus Previous year) Current Year Previous Year Amount Percentage Income Statement Sales Revenue 2$ 119,000 $ 105,300 % Cost of Goods Sold 53,800 48,900 % Gross Profit 65,200 56,400 % Operating Expenses 40,500 35,250 % Interest Expense 4,900 4,900 % Income before Income Tax Expense 19,800 16,250 Income Tax Expense (30%) 5,940 4,875 % Net Income $ 13,860 $ 11,375 % Balance Sheet Cash $ 71,760 $ 37,200 % Accounts Receivable, Net 18,800 10,200 % Inventory 25,900 39,800 % Property and Equipment, Net 95,900 109,500 % Total Assets $ 212,360 $ 196,700 % Accounts Payable $ 43,800 $ 35,900 % Income Tax Payable 2,800 1,400 % Notes Payable (long-term) 49,000 49,000 % Total Liabilities 95,600 86,300 % Common Stock (par $10) 82,000 82,000 % Retained Earnings 34,760 28,400 Total Liabilities and Stockholders' Equity $ 212,360 $ 196,700 % Which account increased by the largest dollar amount? Account Which account increased by the largest percentage? Аccount Pinnacle Plus declared and paid a cash dividend of $7,500 in the current year. Its comparative financial statements, prepared at December 31, reported the following summarized information: Required: 1. Complete the two final columns shown beside each item in Pinnacle Plus's comparative financial statements. 2-a. Which account increased by the largest dollar amount? 2-b. Which account increased by the largest percentage? Req 1 Req 2A Req 2B Complete the two final columns shown beside each item in Pinnacle Plus's comparative financial statements. (Decreases should be indicated by a minus sign. Round percentage values to 1 decimal place.) PINNACLE PLUS Horizontal Analysis Increase (Decrease) in the Current year (versus Previous year) Current Year Previous Year Amount Percentage Income Statement Sales Revenue 2$ 119,000 $ 105,300 % Cost of Goods Sold 53,800 48,900 % Gross Profit 65,200 56,400 % Operating Expenses 40,500 35,250 % Interest Expense 4,900 4,900 % Income before Income Tax Expense 19,800 16,250 Income Tax Expense (30%) 5,940 4,875 % Net Income $ 13,860 $ 11,375 % Balance Sheet Cash $ 71,760 $ 37,200 % Accounts Receivable, Net 18,800 10,200 % Inventory 25,900 39,800 % Property and Equipment, Net 95,900 109,500 % Total Assets $ 212,360 $ 196,700 % Accounts Payable $ 43,800 $ 35,900 % Income Tax Payable 2,800 1,400 % Notes Payable (long-term) 49,000 49,000 % Total Liabilities 95,600 86,300 % Common Stock (par $10) 82,000 82,000 % Retained Earnings 34,760 28,400 Total Liabilities and Stockholders' Equity $ 212,360 $ 196,700 % Which account increased by the largest dollar amount? Account Which account increased by the largest percentage? Аccount Pinnacle Plus declared and paid a cash dividend of $7,500 in the current year. Its comparative financial statements, prepared at December 31, reported the following summarized information: Required: 1. Complete the two final columns shown beside each item in Pinnacle Plus's comparative financial statements. 2-a. Which account increased by the largest dollar amount? 2-b. Which account increased by the largest percentage? Req 1 Req 2A Req 2B Complete the two final columns shown beside each item in Pinnacle Plus's comparative financial statements. (Decreases should be indicated by a minus sign. Round percentage values to 1 decimal place.) PINNACLE PLUS Horizontal Analysis Increase (Decrease) in the Current year (versus Previous year) Current Year Previous Year Amount Percentage Income Statement Sales Revenue 2$ 119,000 $ 105,300 % Cost of Goods Sold 53,800 48,900 % Gross Profit 65,200 56,400 % Operating Expenses 40,500 35,250 % Interest Expense 4,900 4,900 % Income before Income Tax Expense 19,800 16,250 Income Tax Expense (30%) 5,940 4,875 % Net Income $ 13,860 $ 11,375 % Balance Sheet Cash $ 71,760 $ 37,200 % Accounts Receivable, Net 18,800 10,200 % Inventory 25,900 39,800 % Property and Equipment, Net 95,900 109,500 % Total Assets $ 212,360 $ 196,700 % Accounts Payable $ 43,800 $ 35,900 % Income Tax Payable 2,800 1,400 % Notes Payable (long-term) 49,000 49,000 % Total Liabilities 95,600 86,300 % Common Stock (par $10) 82,000 82,000 % Retained Earnings 34,760 28,400 Total Liabilities and Stockholders' Equity $ 212,360 $ 196,700 % Which account increased by the largest dollar amount? Account Which account increased by the largest percentage? Аccount Pinnacle Plus declared and paid a cash dividend of $7,500 in the current year. Its comparative financial statements, prepared at December 31, reported the following summarized information: Required: 1. Complete the two final columns shown beside each item in Pinnacle Plus's comparative financial statements. 2-a. Which account increased by the largest dollar amount? 2-b. Which account increased by the largest percentage? Req 1 Req 2A Req 2B Complete the two final columns shown beside each item in Pinnacle Plus's comparative financial statements. (Decreases should be indicated by a minus sign. Round percentage values to 1 decimal place.) PINNACLE PLUS Horizontal Analysis Increase (Decrease) in the Current year (versus Previous year) Current Year Previous Year Amount Percentage Income Statement Sales Revenue 2$ 119,000 $ 105,300 % Cost of Goods Sold 53,800 48,900 % Gross Profit 65,200 56,400 % Operating Expenses 40,500 35,250 % Interest Expense 4,900 4,900 % Income before Income Tax Expense 19,800 16,250 Income Tax Expense (30%) 5,940 4,875 % Net Income $ 13,860 $ 11,375 % Balance Sheet Cash $ 71,760 $ 37,200 % Accounts Receivable, Net 18,800 10,200 % Inventory 25,900 39,800 % Property and Equipment, Net 95,900 109,500 % Total Assets $ 212,360 $ 196,700 % Accounts Payable $ 43,800 $ 35,900 % Income Tax Payable 2,800 1,400 % Notes Payable (long-term) 49,000 49,000 % Total Liabilities 95,600 86,300 % Common Stock (par $10) 82,000 82,000 % Retained Earnings 34,760 28,400 Total Liabilities and Stockholders' Equity $ 212,360 $ 196,700 % Which account increased by the largest dollar amount? Account Which account increased by the largest percentage? Аccount Pinnacle Plus declared and paid a cash dividend of $7,500 in the current year. Its comparative financial statements, prepared at December 31, reported the following summarized information: Required: 1. Complete the two final columns shown beside each item in Pinnacle Plus's comparative financial statements. 2-a. Which account increased by the largest dollar amount? 2-b. Which account increased by the largest percentage? Req 1 Req 2A Req 2B Complete the two final columns shown beside each item in Pinnacle Plus's comparative financial statements. (Decreases should be indicated by a minus sign. Round percentage values to 1 decimal place.) PINNACLE PLUS Horizontal Analysis Increase (Decrease) in the Current year (versus Previous year) Current Year Previous Year Amount Percentage Income Statement Sales Revenue 2$ 119,000 $ 105,300 % Cost of Goods Sold 53,800 48,900 % Gross Profit 65,200 56,400 % Operating Expenses 40,500 35,250 % Interest Expense 4,900 4,900 % Income before Income Tax Expense 19,800 16,250 Income Tax Expense (30%) 5,940 4,875 % Net Income $ 13,860 $ 11,375 % Balance Sheet Cash $ 71,760 $ 37,200 % Accounts Receivable, Net 18,800 10,200 % Inventory 25,900 39,800 % Property and Equipment, Net 95,900 109,500 % Total Assets $ 212,360 $ 196,700 % Accounts Payable $ 43,800 $ 35,900 % Income Tax Payable 2,800 1,400 % Notes Payable (long-term) 49,000 49,000 % Total Liabilities 95,600 86,300 % Common Stock (par $10) 82,000 82,000 % Retained Earnings 34,760 28,400 Total Liabilities and Stockholders' Equity $ 212,360 $ 196,700 % Which account increased by the largest dollar amount? Account Which account increased by the largest percentage? Аccount

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