Record your responses in a spreadsheet. Part A: Horizontal Analysis Item Net Sales Cost of Goods Sold Gross Profit 2015 $880 000 $ $280 000 Accounts Receivable Inventory Total Assets 2014 $800 000 640 000 S December 31, 2015 Instructions: 1. Using horizontal analysis, calculate the trend percentages for net sales, cost of goods sold, and gross profit based on the data provided for Mason Corporation. Fill in the 3 missing values first 2. Explain whether the trends are favourable or unfavourable for each item. Part B: Horizontal and Vertical Analysis 2013 $960 000 820 000 4 300 000 $650 000 480 000 $ December 31, 2014 $500 000 650 000 3 500 000 Instructions: 1. Using the above data taken from the comparative balance sheet of Hargrove Corporation, complete a horizontal analysis comparing 2015 to the base year 2014. 2. Using the above data from the comparative balance sheet of Hargrove Corporation, complete a vertical analysis that will compare accounts receivable and inventory to total assets for each year. 3. What conclusions can you draw? Part C: Comparative Balance Sheet - Horizontal and Vertical Analysis Current assets Capital assets Current liabilities Long-term debt Common shares Retained earnings 2014 $322 678 $180 200 320 300 2013 $280 520 $120 160 320 200 Instructions: 1. Using horizontal analysis, show the percentage change for each balance sheet item of Martin Corporation, using 2013 as a base year 2. Using vertical analysis, prepare a common size comparative balance sheet for Martin Corporation for each year.