The comparative financial statements for Summer Corporation are below:

Required:
1. Complete the following columns for each item in the preceding comparative financial statements:
INCREASE (DECREASE) from Year 1 to Year 2
Amount .................................Percent
2. By what amount did the current ratio change from Year 1 to Year 2?

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Year 2 Year 1 Income Statement Sales revenue Cost of goods sold Gross profit Operating expenses (including interest on bonds) Pretax income Income tax Net income $453,000 250,000 203,000 167,000 36,000 10,800 $ 25,200 $447,000 241,000 206,000 168,000 38,000 11,400 26,600 Balance Sheet Cash Accounts receivable (net) Merchandise inventory Prepaid expenses Property and equipment (net) $ 6,800 42,000 25,000 200 130,000 $204,000 S 3,900 29,000 18,000 100 120,000 S171,000 Accounts payable Income taxes payable Bonds payable (Interest rate: 10%) Common stock (S10 par value Retained earnings 17,000 1,000 70,000 100,000 16,000 $204,000 S 18,000 1,000 50,000 100,000 2,000 $171.000