Question: Using the following selected items from the comparative balance sheet of Novak Auto Supply Company illustrate horizontal and vertical analysis. Assume the company began

Using the following selected items from the comparative balance sheet of Novak Auto Supply Company illustrate horizontal and vertical analysis. Assume the company began operations on January 1, 2025. (Round answers to O decimal places, e.g. 52%.) VERTICAL ANALYSIS December 31, 2026 December 31, 2025 do % % % HORIZONTAL ANALYSIS December 31, 2026 December 31, 2025 December 31, 2026 December 31, 2025 Accounts Receivable $ 708,928 $608,000 % % do % % % do Total Assets 3,222,400 3,040,000 % % % % Inventory 418,912 334,400

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